Hidden Cove Wealth Management LLC Takes Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Hidden Cove Wealth Management LLC bought a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 35,059 shares of the energy company’s stock, valued at approximately $922,000. Alliance Resource Partners accounts for approximately 0.7% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARLP. BNP Paribas Financial Markets boosted its holdings in shares of Alliance Resource Partners by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 22,446 shares of the energy company’s stock worth $561,000 after purchasing an additional 7,321 shares during the period. Pathway Financial Advisers LLC grew its stake in Alliance Resource Partners by 2,400.0% in the third quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock worth $1,692,000 after purchasing an additional 64,968 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the 3rd quarter worth about $29,144,000. International Assets Investment Management LLC bought a new position in shares of Alliance Resource Partners during the third quarter valued at approximately $7,500,000. Finally, Crescent Grove Advisors LLC increased its position in Alliance Resource Partners by 15.5% during the 3rd quarter. Crescent Grove Advisors LLC now owns 208,793 shares of the energy company’s stock valued at $5,220,000 after buying an additional 28,016 shares in the last quarter. Institutional investors own 18.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ARLP shares. Singular Research cut shares of Alliance Resource Partners from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, December 2nd. StockNews.com downgraded Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Benchmark reissued a “buy” rating and set a $29.00 price objective (up previously from $27.00) on shares of Alliance Resource Partners in a research report on Tuesday, February 4th.

Insider Activity

In related news, SVP Timothy J. Whelan sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. Following the completion of the transaction, the senior vice president now owns 157,946 shares in the company, valued at $4,422,488. The trade was a 5.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.80% of the company’s stock.

Alliance Resource Partners Trading Down 1.1 %

Shares of Alliance Resource Partners stock opened at $26.16 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.36. The company has a fifty day moving average of $26.89 and a 200 day moving average of $25.67. The company has a market capitalization of $3.35 billion, a P/E ratio of 9.48 and a beta of 1.16. Alliance Resource Partners, L.P. has a fifty-two week low of $18.32 and a fifty-two week high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, February 3rd. The energy company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. On average, sell-side analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date is Friday, February 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is 101.45%.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.