The Alliance Holdings GP, L.P. (AHGP) Announces Earnings Results

The Alliance Holdings GP, L.P. (AHGP) Announces  Earnings Results

Alliance Holdings GP, L.P. (NASDAQ:AHGP) posted its quarterly earnings results on Friday. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.08. The firm had revenue of $551.97 million for the quarter, compared to analysts’ expectations of $498.30 million. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis.

Alliance Holdings GP, L.P. (NASDAQ:AHGP) opened at 28.68 on Monday.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Thursday, November 10th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.67%. The ex-dividend date is Tuesday, November 8th.

A number of hedge funds and other institutional investors have recently bought and sold shares of AHGP. Neuberger Berman Group LLC boosted its position in Alliance Holdings GP, L.P. by 8.6% in the second quarter. Neuberger Berman Group LLC now owns 7,279,383 shares of the company’s stock worth $153,158,000 after buying an additional 574,731 shares during the last quarter. Energy Income Partners LLC boosted its position in Alliance Holdings GP, L.P. by 21.2% in the first quarter. Energy Income Partners LLC now owns 1,603,530 shares of the company’s stock worth $23,443,000 after buying an additional 279,993 shares during the last quarter. Van ECK Associates Corp boosted its position in Alliance Holdings GP, L.P. by 3.5% in the second quarter. Van ECK Associates Corp now owns 277,864 shares of the company’s stock worth $5,846,000 after buying an additional 9,357 shares during the last quarter. Mountain Lake Investment Management LLC boosted its position in Alliance Holdings GP, L.P. by 2.1% in the second quarter. Mountain Lake Investment Management LLC now owns 237,900 shares of the company’s stock worth $5,005,000 after buying an additional 4,900 shares during the last quarter. Finally, First Manhattan Co. boosted its position in Alliance Holdings GP, L.P. by 1.8% in the third quarter. First Manhattan Co. now owns 211,438 shares of the company’s stock worth $5,507,000 after buying an additional 3,800 shares during the last quarter.

Separately, Zacks Investment Research raised Alliance Holdings GP, L.P. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, July 29th.

About Alliance Holdings GP, L.P.

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