Alliance Resource Partners, L.P. (NASDAQ:ARLP) – B. Riley reduced their FY2018 earnings per share (EPS) estimates for Alliance Resource Partners in a research note issued on Monday, November 5th. B. Riley analyst L. Pipes now expects that the energy company will earn $2.52 per share for the year, down from their previous estimate of $2.76. B. Riley also issued estimates for Alliance Resource Partners’ Q4 2018 earnings at $0.75 EPS, Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.60 EPS and Q3 2019 earnings at $0.58 EPS.
Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, October 29th. The energy company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.20). Alliance Resource Partners had a net margin of 19.96% and a return on equity of 25.50%. The firm had revenue of $497.80 million during the quarter, compared to the consensus estimate of $506.23 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis.
ARLP has been the subject of a number of other reports. Zacks Investment Research cut Alliance Resource Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub cut Alliance Resource Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, July 13th. TheStreet upgraded Alliance Resource Partners from a “c+” rating to a “b” rating in a research note on Monday, October 29th. Finally, ValuEngine upgraded Alliance Resource Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Alliance Resource Partners currently has a consensus rating of “Hold” and a consensus price target of $23.40.
Shares of ARLP opened at $19.89 on Tuesday. Alliance Resource Partners has a 52 week low of $15.55 and a 52 week high of $21.90. The firm has a market capitalization of $2.54 billion, a PE ratio of 6.93 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.15 and a quick ratio of 0.90.
A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in Alliance Resource Partners by 29.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after purchasing an additional 3,708 shares during the last quarter. Intrust Bank NA raised its position in shares of Alliance Resource Partners by 36.1% in the 2nd quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock worth $265,000 after acquiring an additional 3,831 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Alliance Resource Partners by 9.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 57,429 shares of the energy company’s stock worth $1,172,000 after acquiring an additional 5,184 shares in the last quarter. FMR LLC raised its position in shares of Alliance Resource Partners by 0.7% in the 2nd quarter. FMR LLC now owns 836,100 shares of the energy company’s stock worth $15,342,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in shares of Alliance Resource Partners in the 3rd quarter worth about $146,000. 29.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director Nick Carter bought 2,219 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average cost of $19.85 per share, with a total value of $44,047.15. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $397,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.03% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 10.56%. The ex-dividend date of this dividend is Tuesday, November 6th. Alliance Resource Partners’s dividend payout ratio is currently 72.47%.
About Alliance Resource Partners
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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