PNC Financial Services Group Inc. Has $412,000 Stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

PNC Financial Services Group Inc. reduced its stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLPFree Report) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,453 shares of the energy company’s stock after selling 1,002 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alliance Resource Partners were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARLP. Chiron Investment Management LLC acquired a new stake in shares of Alliance Resource Partners during the 3rd quarter worth about $128,000. Tortoise Investment Management LLC acquired a new stake in shares of Alliance Resource Partners during the fourth quarter worth approximately $151,000. Counterpoint Mutual Funds LLC raised its stake in shares of Alliance Resource Partners by 128.5% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 9,943 shares of the energy company’s stock valued at $211,000 after acquiring an additional 5,592 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Alliance Resource Partners in the 3rd quarter worth approximately $248,000. Finally, Avantax Advisory Services Inc. grew its position in Alliance Resource Partners by 54.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 14,285 shares of the energy company’s stock worth $303,000 after acquiring an additional 5,010 shares during the last quarter. 18.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com raised Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Benchmark reiterated a “buy” rating and set a $25.00 price target on shares of Alliance Resource Partners in a research report on Tuesday, April 30th.

Read Our Latest Stock Analysis on ARLP

Alliance Resource Partners Price Performance

ARLP opened at $24.91 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.54. The stock has a market capitalization of $3.19 billion, a P/E ratio of 5.45 and a beta of 1.11. The company’s 50 day simple moving average is $21.99 and its 200-day simple moving average is $20.97. Alliance Resource Partners, L.P. has a one year low of $17.40 and a one year high of $25.53.

Alliance Resource Partners (NASDAQ:ARLPGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The energy company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.28. The firm had revenue of $651.70 million for the quarter, compared to the consensus estimate of $625.32 million. Alliance Resource Partners had a return on equity of 31.68% and a net margin of 23.36%. During the same quarter in the prior year, the business earned $1.45 EPS. Sell-side analysts anticipate that Alliance Resource Partners, L.P. will post 4.1 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $2.80 annualized dividend and a yield of 11.24%. Alliance Resource Partners’s dividend payout ratio is currently 61.27%.

Alliance Resource Partners Profile

(Free Report)

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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