Alliance Resource Partners (NASDAQ:ARLP) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Alliance Resource Partners (NASDAQ:ARLP) from an overweight rating to a neutral rating in a research report report published on Monday, BenzingaRatingsTable reports. The brokerage currently has $22.00 price target on the energy company’s stock, down from their prior price target of $23.00.

ARLP has been the topic of a number of other reports. B. Riley lowered Alliance Resource Partners from a buy rating to a neutral rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday, July 17th. Seaport Global Securities lowered Alliance Resource Partners from a buy rating to a neutral rating in a report on Monday, July 29th. ValuEngine raised Alliance Resource Partners from a sell rating to a hold rating in a report on Thursday, August 1st. Clarkson Capital assumed coverage on Alliance Resource Partners in a report on Tuesday, July 9th. They issued a buy rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research lowered Alliance Resource Partners from a hold rating to a strong sell rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Alliance Resource Partners presently has an average rating of Hold and an average price target of $20.75.

Shares of NASDAQ:ARLP opened at $15.23 on Monday. The business’s 50-day moving average is $20.64 and its 200 day moving average is $22.06. Alliance Resource Partners has a 1 year low of $14.41 and a 1 year high of $20.99. The firm has a market capitalization of $1.92 billion, a P/E ratio of 6.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.02 and a quick ratio of 0.76.



Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Friday, July 26th. The energy company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.21). Alliance Resource Partners had a net margin of 22.14% and a return on equity of 27.63%. The business had revenue of $517.10 million for the quarter, compared to analyst estimates of $531.10 million. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts expect that Alliance Resource Partners will post 2.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.16 dividend on an annualized basis and a yield of 14.18%. This is an increase from Alliance Resource Partners’s previous quarterly dividend of $0.54. Alliance Resource Partners’s dividend payout ratio is currently 88.52%.

In other Alliance Resource Partners news, Director Wilson M. Torrence purchased 5,600 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $15.42 per share, for a total transaction of $86,352.00. Following the completion of the transaction, the director now owns 39,096 shares of the company’s stock, valued at approximately $602,860.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Druten sold 12,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $17.13, for a total value of $205,560.00. Following the transaction, the director now owns 25,628 shares in the company, valued at approximately $439,007.64. The disclosure for this sale can be found here. Corporate insiders own 44.03% of the company’s stock.

A number of hedge funds have recently modified their holdings of ARLP. Brand Asset Management Group Inc. purchased a new position in Alliance Resource Partners during the second quarter worth approximately $35,000. Valeo Financial Advisors LLC lifted its position in shares of Alliance Resource Partners by 185.7% in the second quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock valued at $60,000 after acquiring an additional 2,291 shares in the last quarter. NEXT Financial Group Inc purchased a new position in shares of Alliance Resource Partners in the second quarter valued at approximately $60,000. Arlington Partners LLC purchased a new position in shares of Alliance Resource Partners in the second quarter valued at approximately $114,000. Finally, Bessemer Group Inc. purchased a new position in shares of Alliance Resource Partners in the second quarter valued at approximately $192,000. Institutional investors own 25.09% of the company’s stock.

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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