BidaskClub upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a sell rating to a hold rating in a research note published on Thursday, BidAskClub reports.
Other research analysts have also issued research reports about the stock. Clarkson Capital initiated coverage on shares of Alliance Resource Partners in a report on Tuesday, July 9th. They set a buy rating and a $20.00 price target for the company. Seaport Global Securities lowered shares of Alliance Resource Partners from a buy rating to a neutral rating in a report on Monday, July 29th. ValuEngine upgraded shares of Alliance Resource Partners from a sell rating to a hold rating in a report on Thursday. B. Riley lowered shares of Alliance Resource Partners from a buy rating to a neutral rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, July 17th. Finally, Zacks Investment Research lowered shares of Alliance Resource Partners from a hold rating to a strong sell rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.33.
NASDAQ ARLP traded down $0.18 during trading hours on Thursday, reaching $17.15. The company’s stock had a trading volume of 400,106 shares, compared to its average volume of 446,087. The company’s fifty day simple moving average is $17.25. The firm has a market capitalization of $2.23 billion, a PE ratio of 7.03 and a beta of 0.95. Alliance Resource Partners has a 52 week low of $16.50 and a 52 week high of $20.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.94.
Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Friday, July 26th. The energy company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.21). Alliance Resource Partners had a return on equity of 28.20% and a net margin of 22.14%. The firm had revenue of $517.10 million for the quarter, compared to the consensus estimate of $531.10 million. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Alliance Resource Partners will post 2.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.54 per share. This is an increase from Alliance Resource Partners’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, August 6th. This represents a $2.16 annualized dividend and a dividend yield of 12.59%. Alliance Resource Partners’s dividend payout ratio (DPR) is 87.70%.
In other news, Director Robert J. Druten sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $17.13, for a total transaction of $205,560.00. Following the completion of the sale, the director now owns 25,628 shares of the company’s stock, valued at approximately $439,007.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 44.03% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Brand Asset Management Group Inc. acquired a new stake in shares of Alliance Resource Partners during the 2nd quarter worth approximately $35,000. NEXT Financial Group Inc acquired a new stake in shares of Alliance Resource Partners during the 2nd quarter worth approximately $60,000. Valeo Financial Advisors LLC grew its position in shares of Alliance Resource Partners by 185.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock worth $60,000 after buying an additional 2,291 shares during the period. Arlington Partners LLC acquired a new stake in shares of Alliance Resource Partners during the 2nd quarter worth approximately $114,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Alliance Resource Partners during the 1st quarter worth approximately $203,000. 24.80% of the stock is 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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