1,026,862 Alliance Resource Partners, L.P. $ARLP Shares Acquired by Lido Advisors LLC

Lido Advisors LLC boosted its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 93.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,123,618 shares of the energy company’s stock after purchasing an additional 1,026,862 shares during the period. Lido Advisors LLC’s holdings in Alliance Resource Partners were worth $51,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dayah Capital LLC bought a new stake in shares of Alliance Resource Partners in the first quarter worth about $1,825,000. Pinnacle Holdings LLC acquired a new stake in shares of Alliance Resource Partners during the second quarter worth about $3,074,000. Bank of America Corp DE lifted its holdings in shares of Alliance Resource Partners by 74.2% during the 1st quarter. Bank of America Corp DE now owns 269,655 shares of the energy company’s stock valued at $7,456,000 after purchasing an additional 114,880 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Alliance Resource Partners during the 1st quarter valued at about $6,830,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Alliance Resource Partners in the 1st quarter valued at approximately $1,397,000. 18.11% of the stock is owned by institutional investors and hedge funds.

Alliance Resource Partners Price Performance

ARLP stock opened at $25.08 on Wednesday. The stock has a 50-day moving average price of $25.61 and a two-hundred day moving average price of $25.64. The stock has a market cap of $3.23 billion, a PE ratio of 10.45 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.27. Alliance Resource Partners, L.P. has a 1 year low of $23.01 and a 1 year high of $29.45.

Alliance Resource Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 9.6%. The ex-dividend date of this dividend is Friday, November 6th. Alliance Resource Partners’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

ARLP has been the subject of a number of research reports. Weiss Ratings cut Alliance Resource Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Zacks Research lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Wall Street Zen raised shares of Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. is a diversified natural resource company best known for producing and marketing coal. Its coal is sold primarily to electric utilities for power generation, along with customers in other industrial markets. The partnership operates coal mines in the Illinois Basin and Appalachia, serving customers in the United States and international markets. Its activities also include oil and gas royalty interests and other mineral interests, which provide exposure to resources beyond coal.