Legacy Financial Group Inc. Invests $226,000 in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Legacy Financial Group Inc. bought a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the second quarter, Holdings Channel.com reports. The fund bought 9,223 shares of the energy company’s stock, valued at approximately $226,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the 1st quarter valued at approximately $23,567,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Alliance Resource Partners during the 2nd quarter worth $6,595,000. Magnolia Group LLC grew its stake in shares of Alliance Resource Partners by 7.1% during the first quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock worth $69,050,000 after purchasing an additional 229,700 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Alliance Resource Partners in the first quarter valued at $3,566,000. Finally, Progeny 3 Inc. raised its stake in Alliance Resource Partners by 5.1% in the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock valued at $54,778,000 after buying an additional 132,630 shares in the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

Alliance Resource Partners Stock Performance

Shares of ARLP stock opened at $23.53 on Wednesday. The stock’s 50-day moving average is $24.04 and its two-hundred day moving average is $22.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53. Alliance Resource Partners, L.P. has a 1 year low of $18.32 and a 1 year high of $26.21. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 5.15 and a beta of 1.13.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Monday, July 29th. The energy company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.16). Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. The firm had revenue of $593.35 million for the quarter, compared to analysts’ expectations of $624.72 million. During the same quarter in the prior year, the business earned $1.30 EPS. Analysts predict that Alliance Resource Partners, L.P. will post 3.56 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $2.80 annualized dividend and a yield of 11.90%. Alliance Resource Partners’s dividend payout ratio (DPR) is 61.27%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Benchmark upped their price objective on Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st.

Alliance Resource Partners Company Profile

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.