Alliance Resource Partners (NASDAQ:ARLP) Hits New 1-Year High – Still a Buy?

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.15 and last traded at $27.15, with a volume of 5815 shares changing hands. The stock had previously closed at $26.72.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Benchmark lifted their price objective on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

Alliance Resource Partners Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.53 and a quick ratio of 1.80. The stock has a 50-day moving average price of $24.75 and a 200-day moving average price of $24.12. The firm has a market capitalization of $3.43 billion, a PE ratio of 7.62 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data 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). The business had revenue of $613.57 million for the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. During the same quarter in the prior year, the firm earned $1.18 earnings per share. On average, research analysts expect that Alliance Resource Partners, L.P. will post 3.2 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.80 annualized dividend and a yield of 10.44%. Alliance Resource Partners’s dividend payout ratio is presently 79.55%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Alliance Resource Partners during the first quarter worth about $3,566,000. Pathway Financial Advisers LLC lifted its holdings in Alliance Resource Partners by 2,400.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock worth $1,692,000 after buying an additional 64,968 shares during the last quarter. Creative Planning grew its position in shares of Alliance Resource Partners by 89.8% in the 2nd quarter. Creative Planning now owns 72,099 shares of the energy company’s stock worth $1,764,000 after acquiring an additional 34,106 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Alliance Resource Partners in the 3rd quarter worth approximately $7,500,000. Finally, Progeny 3 Inc. increased its holdings in shares of Alliance Resource Partners by 2.8% in the 2nd quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company’s stock valued at $68,669,000 after acquiring an additional 75,340 shares during the last quarter. 18.11% of the stock is owned by institutional investors and hedge funds.

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.