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

StockNews.com upgraded shares of Alliance Resource Partners (NASDAQ:ARLPGet Rating) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

Separately, Noble Financial began coverage on shares of Alliance Resource Partners in a research report on Wednesday, March 30th. They issued an outperform rating and a $22.00 price target on the stock.

ARLP opened at $18.54 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.57 and a debt-to-equity ratio of 0.34. Alliance Resource Partners has a 1-year low of $5.85 and a 1-year high of $19.61. The company has a market capitalization of $2.36 billion, a PE ratio of 12.70 and a beta of 1.43. The firm’s 50 day simple moving average is $16.30 and its two-hundred day simple moving average is $13.78.

Alliance Resource Partners (NASDAQ:ARLPGet Rating) last released its quarterly earnings results on Monday, May 2nd. The energy company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.32). Alliance Resource Partners had a return on equity of 15.92% and a net margin of 11.10%. The business had revenue of $460.86 million during the quarter, compared to the consensus estimate of $483.56 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities analysts forecast that Alliance Resource Partners will post 3.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.55%. This is an increase from Alliance Resource Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, May 5th. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 95.89%.

Several hedge funds have recently made changes to their positions in ARLP. JPMorgan Chase & Co. raised its position in shares of Alliance Resource Partners by 219.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,918,407 shares of the energy company’s stock valued at $24,249,000 after purchasing an additional 1,317,347 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Alliance Resource Partners by 445.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 800,064 shares of the energy company’s stock valued at $8,697,000 after purchasing an additional 653,483 shares during the period. Bank of Montreal Can increased its holdings in Alliance Resource Partners by 142.0% in the 4th quarter. Bank of Montreal Can now owns 881,600 shares of the energy company’s stock valued at $10,985,000 after acquiring an additional 517,300 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in Alliance Resource Partners in the 3rd quarter valued at $3,326,000. Finally, Miller Value Partners LLC increased its holdings in Alliance Resource Partners by 84.4% in the 4th quarter. Miller Value Partners LLC now owns 600,700 shares of the energy company’s stock valued at $7,593,000 after acquiring an additional 275,000 shares during the last quarter. Hedge funds and other institutional investors own 22.79% of the company’s stock.

About Alliance Resource Partners (Get Rating)

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.

Recommended Stories

Receive News & Ratings for Alliance Resource Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Resource Partners and related companies with MarketBeat.com's FREE daily email newsletter.