Bank of America Corp DE Sells 21,352 Shares of Alliance Resource Partners, L.P. (ARLP)

Bank of America Corp DE decreased its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 580,021 shares of the energy company’s stock after selling 21,352 shares during the period. Bank of America Corp DE owned about 0.78% of Alliance Resource Partners, L.P. worth $12,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ARLP. Sheaff Brock Investment Advisors LLC boosted its position in shares of Alliance Resource Partners, L.P. by 1.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 9,284 shares of the energy company’s stock worth $201,000 after buying an additional 120 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth approximately $210,000. Private Advisor Group LLC bought a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth approximately $222,000. Intrust Bank NA bought a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth approximately $221,000. Finally, Rational Advisors LLC bought a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth approximately $271,000. Institutional investors own 25.90% of the company’s stock.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) opened at 20.75 on Tuesday. Alliance Resource Partners, L.P. has a 52 week low of $17.10 and a 52 week high of $26.65.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last posted its earnings results on Monday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.29. The firm had revenue of $461.08 million for the quarter, compared to the consensus estimate of $455.55 million. Alliance Resource Partners, L.P. had a net margin of 20.05% and a return on equity of 37.37%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. Analysts predict that Alliance Resource Partners, L.P. will post $3.28 EPS for the current fiscal year.

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A number of brokerages have commented on ARLP. Zacks Investment Research cut Alliance Resource Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Alliance Resource Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. ValuEngine cut Alliance Resource Partners, L.P. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, FBR & Co restated an “outperform” rating and set a $29.00 price objective (up previously from $27.00) on shares of Alliance Resource Partners, L.P. in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.93.

Alliance Resource Partners, L.P. Company Profile

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

Institutional Ownership by Quarter for Alliance Resource Partners, L.P. (NASDAQ:ARLP)

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