Alliance Resource Partners, L.P. $ARLP Stock Holdings Trimmed by Progeny 3 Inc.

Progeny 3 Inc. decreased its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 1.6% in the first quarter, Holdings Channel.com reports. The firm owned 3,229,764 shares of the energy company’s stock after selling 52,907 shares during the quarter. Alliance Resource Partners comprises approximately 4.8% of Progeny 3 Inc.’s investment portfolio, making the stock its 6th largest position. Progeny 3 Inc.’s holdings in Alliance Resource Partners were worth $89,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARLP. Royal Bank of Canada lifted its position in Alliance Resource Partners by 7.0% during the 1st quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock valued at $519,000 after acquiring an additional 1,254 shares during the period. Geode Capital Management LLC grew its holdings in Alliance Resource Partners by 0.7% in the second quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock worth $3,091,000 after purchasing an additional 855 shares during the period. Jump Financial LLC purchased a new stake in Alliance Resource Partners in the second quarter worth about $418,000. HUB Investment Partners LLC increased its stake in shares of Alliance Resource Partners by 4.0% during the second quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock valued at $342,000 after purchasing an additional 499 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Alliance Resource Partners by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after purchasing an additional 23,579 shares during the last quarter. 18.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings raised Alliance Resource Partners from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Wall Street Zen lowered Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Zacks Research upgraded Alliance Resource Partners from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $30.00.

Alliance Resource Partners Price Performance

Shares of Alliance Resource Partners stock opened at $24.71 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.46. The stock has a market capitalization of $3.18 billion, a PE ratio of 13.01 and a beta of 0.23. Alliance Resource Partners, L.P. has a 52-week low of $22.20 and a 52-week high of $29.45. The company has a 50-day simple moving average of $24.68 and a two-hundred day simple moving average of $25.50.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 27th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The firm had revenue of $516.02 million during the quarter, compared to the consensus estimate of $518.24 million. On average, analysts anticipate that Alliance Resource Partners, L.P. will post 2.51 EPS for the current fiscal year.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.