Alliance Resource Partners (ARLP) Lowered to Buy at BidaskClub

BidaskClub cut shares of Alliance Resource Partners (NASDAQ:ARLP) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Alliance Resource Partners from a buy rating to a hold rating in a research report on Thursday, November 1st. TheStreet upgraded shares of Alliance Resource Partners from a c+ rating to a b rating in a research note on Monday, October 29th. Finally, ValuEngine raised shares of Alliance Resource Partners from a sell rating to a hold rating in a report on Friday, October 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $23.20.

Shares of NASDAQ ARLP opened at $19.57 on Tuesday. Alliance Resource Partners has a twelve month low of $15.55 and a twelve month high of $21.90. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 6.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 1.13.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 29th. The energy company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.20). The business had revenue of $497.80 million for the quarter, compared to the consensus estimate of $506.23 million. Alliance Resource Partners had a return on equity of 25.32% and a net margin of 19.96%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, analysts anticipate that Alliance Resource Partners will post 2.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were issued a $0.525 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $2.10 annualized dividend and a dividend yield of 10.73%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 73.17%.

A number of hedge funds have recently bought and sold shares of ARLP. Commonwealth Equity Services LLC grew its position in shares of Alliance Resource Partners by 29.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after buying an additional 3,708 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Alliance Resource Partners in the 2nd quarter worth $597,000. Wells Fargo & Company MN increased its holdings in Alliance Resource Partners by 487.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,204,839 shares of the energy company’s stock worth $22,109,000 after acquiring an additional 999,910 shares in the last quarter. Arrow Investment Advisors LLC purchased a new stake in shares of Alliance Resource Partners during the second quarter worth $517,000. Finally, Fairbanks Capital Management Inc. purchased a new stake in shares of Alliance Resource Partners during the second quarter worth $2,540,000. 29.11% of the stock is currently owned by institutional investors.

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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