Alliance Resource Partners (NASDAQ:ARLP) Upgraded at StockNews.com

StockNews.com upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

Separately, Benchmark raised their target price on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

Alliance Resource Partners Stock Down 4.2 %

Shares of Alliance Resource Partners stock opened at $25.68 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a 12-month low of $18.32 and a 12-month high of $27.80. The company has a market cap of $3.29 billion, a P/E ratio of 7.30 and a beta of 1.14. The company’s fifty day simple moving average is $24.79 and its two-hundred day simple moving average is $24.17.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results 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). Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.80%. The company had revenue of $613.57 million for the quarter, compared to analysts’ expectations of $646.17 million. During the same quarter in the prior year, the firm earned $1.18 EPS. Research analysts anticipate that Alliance Resource Partners will post 3.2 EPS for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 10.90%. The ex-dividend date is Thursday, November 7th. Alliance Resource Partners’s payout ratio is currently 79.55%.

Hedge Funds Weigh In On Alliance Resource Partners

Several large investors have recently made changes to their positions in the business. Continuum Advisory LLC bought a new position in Alliance Resource Partners during the 2nd quarter valued at approximately $27,000. Beacon Capital Management LLC increased its holdings in shares of Alliance Resource Partners by 135.8% during the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock valued at $36,000 after acquiring an additional 842 shares in the last quarter. Cove Street Capital LLC purchased a new position in shares of Alliance Resource Partners in the 2nd quarter worth about $49,000. Mather Group LLC. bought a new position in Alliance Resource Partners in the 2nd quarter worth about $51,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Alliance Resource Partners during the 1st quarter valued at about $54,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

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.