HITE Hedge Asset Management LLC Invests $1.96 Million in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

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HITE Hedge Asset Management LLC bought a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 96,063 shares of the energy company’s stock, valued at approximately $1,956,000.

Other hedge funds also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. purchased a new stake in shares of Alliance Resource Partners during the fourth quarter worth about $246,000. Rockefeller Capital Management L.P. acquired a new position in Alliance Resource Partners during the first quarter worth about $60,000. Acima Private Wealth LLC acquired a new position in Alliance Resource Partners during the fourth quarter worth about $69,000. Chiron Investment Management LLC boosted its position in Alliance Resource Partners by 19.6% during the fourth quarter. Chiron Investment Management LLC now owns 9,784 shares of the energy company’s stock worth $170,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in Alliance Resource Partners during the first quarter worth about $203,000. 25.00% of the stock is owned by institutional investors and hedge funds.

ARLP traded down $0.32 on Wednesday, reaching $16.98. 9,055 shares of the company’s stock were exchanged, compared to its average volume of 465,686. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.22 billion, a PE ratio of 6.98 and a beta of 0.98. Alliance Resource Partners, L.P. has a twelve month low of $16.50 and a twelve month high of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.34. The company had revenue of $526.60 million for the quarter, compared to analyst estimates of $523.00 million. Alliance Resource Partners had a net margin of 23.51% and a return on equity of 30.52%. Alliance Resource Partners’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. As a group, analysts predict that Alliance Resource Partners, L.P. will post 3.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 12.60%. This is a positive change from Alliance Resource Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, May 7th. Alliance Resource Partners’s payout ratio is presently 87.70%.

ARLP has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Alliance Resource Partners from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. BidaskClub upgraded shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th. Finally, ValuEngine lowered shares of Alliance Resource Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.

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Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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

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