Alliance Resource Partners (NASDAQ:ARLP) Sets New 1-Year High – Here’s Why

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price hit a new 52-week high on Monday . The company traded as high as $28.93 and last traded at $28.85, with a volume of 24992 shares changing hands. The stock had previously closed at $28.49.

Analyst Upgrades and Downgrades

ARLP has been the subject of a number of research reports. Benchmark increased their price target on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th.

Alliance Resource Partners Trading Up 0.3 %

The stock has a market capitalization of $3.66 billion, a P/E ratio of 8.12 and a beta of 1.14. The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $25.57 and its two-hundred day simple moving average is $24.51.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.74%. The business had revenue of $613.57 million during the quarter, compared to analyst estimates of $646.17 million. During the same quarter in the prior year, the company posted $1.18 EPS. As a group, analysts forecast that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.80%. The ex-dividend date of this dividend was Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Alliance Resource Partners

A number of hedge funds have recently made changes to their positions in the business. Axxcess Wealth Management LLC acquired a new stake in shares of Alliance Resource Partners during the 1st quarter worth about $209,000. Fairbanks Capital Management Inc. increased its position in shares of Alliance Resource Partners by 1.3% during the 1st quarter. Fairbanks Capital Management Inc. now owns 290,149 shares of the energy company’s stock worth $5,817,000 after purchasing an additional 3,724 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Alliance Resource Partners during the 1st quarter worth about $54,000. First Financial Bank Trust Division increased its position in shares of Alliance Resource Partners by 12.6% during the 2nd quarter. First Financial Bank Trust Division now owns 13,081 shares of the energy company’s stock worth $320,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Alliance Resource Partners during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 18.11% of the company’s stock.

About Alliance Resource Partners

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.