Alliance Resource Partners (NASDAQ:ARLP) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a strong-buy rating in a research report released on Thursday.

Separately, Benchmark boosted their target price on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Alliance Resource Partners Trading Down 4.8 %

Shares of Alliance Resource Partners stock traded down $1.29 on Thursday, hitting $25.52. The stock had a trading volume of 324,917 shares, compared to its average volume of 384,585. The stock has a 50 day moving average of $24.75 and a 200 day moving average of $24.12. The firm has a market capitalization of $3.27 billion, a P/E ratio of 7.62 and a beta of 1.14. Alliance Resource Partners has a twelve month low of $18.32 and a twelve month high of $27.80. 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 (NASDAQ:ARLP) last announced its earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.16). Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. The company had revenue of $613.57 million for the quarter, compared to the consensus estimate of $646.17 million. During the same period in the prior year, the business earned $1.18 earnings per share. Sell-side analysts expect that Alliance Resource Partners will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 10.97%. The ex-dividend date of this dividend is Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio is presently 79.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in Alliance Resource Partners in the 1st quarter valued at approximately $23,567,000. Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners during the 2nd quarter worth about $6,595,000. Magnolia Group LLC boosted its stake in Alliance Resource Partners by 7.1% in the 1st quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock worth $69,050,000 after purchasing an additional 229,700 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in Alliance Resource Partners during the 1st quarter valued at about $3,566,000. Finally, Progeny 3 Inc. increased its position in shares of Alliance Resource Partners by 5.1% during the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock valued at $54,778,000 after buying an additional 132,630 shares during the period. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

Alliance Resource Partners Company Profile

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.