Cohen & Steers Inc. Acquires 10,650 Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Cohen & Steers Inc. boosted its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLPGet Rating) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,988 shares of the energy company’s stock after purchasing an additional 10,650 shares during the period. Cohen & Steers Inc. owned about 0.06% of Alliance Resource Partners worth $1,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its stake in Alliance Resource Partners by 1,764.7% during the first quarter. McIlrath & Eck LLC now owns 3,170 shares of the energy company’s stock worth $49,000 after purchasing an additional 3,000 shares during the period. True North Advisors LLC bought a new position in shares of Alliance Resource Partners in the fourth quarter valued at approximately $126,000. Capital Advisors Inc. OK bought a new position in shares of Alliance Resource Partners in the first quarter valued at approximately $167,000. HighTower Advisors LLC bought a new position in shares of Alliance Resource Partners in the fourth quarter valued at approximately $159,000. Finally, Sigma Planning Corp bought a new position in shares of Alliance Resource Partners in the first quarter valued at approximately $194,000. Institutional investors own 22.79% of the company’s stock.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $25.34 on Monday. The company has a current ratio of 2.37, a quick ratio of 1.81 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $22.69 and a 200-day moving average of $19.12. Alliance Resource Partners, L.P. has a 1 year low of $8.63 and a 1 year high of $27.63. The stock has a market capitalization of $3.22 billion, a P/E ratio of 10.78 and a beta of 1.34.

Alliance Resource Partners (NASDAQ:ARLPGet Rating) last posted its quarterly earnings data on Monday, August 1st. The energy company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.27. Alliance Resource Partners had a net margin of 15.64% and a return on equity of 24.63%. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Alliance Resource Partners, L.P. will post 4.44 EPS for the current fiscal year.

Alliance Resource Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.31%. The ex-dividend date was Thursday, August 4th. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.35. Alliance Resource Partners’s payout ratio is 68.09%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 21st.

Alliance Resource Partners Profile

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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.

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Institutional Ownership by Quarter for Alliance Resource Partners (NASDAQ:ARLP)

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