Alliance Resource Partners (NASDAQ:ARLP) Sees Unusually-High Trading Volume Following Dividend Announcement

Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 172,987 shares traded hands during mid-day trading, a decline of 60% from the previous session’s volume of 435,968 shares.The stock last traded at $22.10 and had previously closed at $21.15.

The newly announced dividend which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 12.61%. Alliance Resource Partners’s dividend payout ratio (DPR) is 58.21%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th.

Alliance Resource Partners Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.84 billion, a PE ratio of 4.62 and a beta of 1.14. The stock’s fifty day simple moving average is $20.13 and its 200-day simple moving average is $20.92.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, January 29th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.26). Alliance Resource Partners had a net margin of 24.50% and a return on equity of 34.90%. The company had revenue of $625.42 million during the quarter, compared to analysts’ expectations of $672.54 million. During the same period last year, the business posted $1.63 earnings per share. On average, research analysts predict that Alliance Resource Partners, L.P. will post 4.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARLP. FinTrust Capital Advisors LLC purchased a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $42,000. Chiron Investment Management LLC purchased a new position in shares of Alliance Resource Partners during the 3rd quarter worth approximately $128,000. Tortoise Investment Management LLC purchased a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $151,000. Advisory Services Network LLC purchased a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $182,000. Finally, Counterpoint Mutual Funds LLC boosted its position in Alliance Resource Partners by 128.5% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 9,943 shares of the energy company’s stock worth $211,000 after acquiring an additional 5,592 shares during the last quarter. 18.11% of the stock is owned by hedge funds and other institutional investors.

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.