Progeny 3 Inc. Acquires 75,340 Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Progeny 3 Inc. raised its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,807,401 shares of the energy company’s stock after buying an additional 75,340 shares during the quarter. Alliance Resource Partners comprises 6.6% of Progeny 3 Inc.’s investment portfolio, making the stock its 4th largest holding. Progeny 3 Inc. owned approximately 2.19% of Alliance Resource Partners worth $68,669,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ARLP. Continuum Advisory LLC bought a new stake in shares of Alliance Resource Partners in the second quarter valued at about $27,000. Beacon Capital Management LLC lifted its position in shares of Alliance Resource Partners by 135.8% in the 2nd quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock worth $36,000 after acquiring an additional 842 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Alliance Resource Partners during the 4th quarter worth approximately $42,000. Cove Street Capital LLC bought a new stake in shares of Alliance Resource Partners during the second quarter valued at approximately $49,000. Finally, Mather Group LLC. acquired a new position in shares of Alliance Resource Partners in the second quarter valued at $51,000. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Stock Up 1.5 %

Shares of NASDAQ:ARLP opened at $24.94 on Monday. The company’s fifty day moving average is $23.89 and its 200-day moving average is $23.13. 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 52 week low of $18.32 and a 52 week high of $26.21. The company has a market capitalization of $3.19 billion, a PE ratio of 5.46 and a beta of 1.13.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, July 29th. The energy company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.16). The firm had revenue of $593.35 million for the quarter, compared to the consensus estimate of $624.72 million. Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. During the same period in the prior year, the company posted $1.30 earnings per share. Equities research analysts predict that Alliance Resource Partners, L.P. will post 3.56 earnings per share for the current fiscal 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 dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 11.23%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 61.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Benchmark raised their price objective on shares of Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

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.