Meridian Wealth Management LLC Invests $202,000 in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Meridian Wealth Management LLC purchased a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,667 shares of the energy company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently made changes to their positions in ARLP. Concurrent Investment Advisors LLC grew its holdings in shares of Alliance Resource Partners by 49.5% in the third quarter. Concurrent Investment Advisors LLC now owns 20,741 shares of the energy company’s stock worth $519,000 after purchasing an additional 6,871 shares during the last quarter. Disciplined Investments LLC grew its holdings in shares of Alliance Resource Partners by 3.0% in the third quarter. Disciplined Investments LLC now owns 58,475 shares of the energy company’s stock worth $1,462,000 after purchasing an additional 1,709 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in shares of Alliance Resource Partners in the third quarter worth about $29,144,000. Moors & Cabot Inc. bought a new position in shares of Alliance Resource Partners in the third quarter worth about $304,000. Finally, AlphaCore Capital LLC grew its holdings in shares of Alliance Resource Partners by 3.0% in the third quarter. AlphaCore Capital LLC now owns 17,203 shares of the energy company’s stock worth $430,000 after purchasing an additional 503 shares during the last quarter. 18.11% of the stock is currently owned by institutional investors.

Alliance Resource Partners Stock Performance

Shares of Alliance Resource Partners stock opened at $24.82 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 8.99 and a beta of 1.09. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $27.01 and a 200 day moving average price of $25.96. Alliance Resource Partners, L.P. has a 52 week low of $19.16 and a 52 week high of $30.56.

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

Alliance Resource Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date of this dividend was Friday, February 7th. Alliance Resource Partners’s dividend payout ratio is presently 101.45%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 cut shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Benchmark reiterated a “buy” rating and set a $29.00 target price (up from $27.00) on shares of Alliance Resource Partners in a report on Tuesday, February 4th.

About Alliance Resource Partners

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.