StockNews.com Downgrades Alliance Resource Partners (NASDAQ:ARLP) to Buy

StockNews.com cut shares of Alliance Resource Partners (NASDAQ:ARLPFree Report) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

Separately, Benchmark reiterated a buy rating and set a $28.00 target price on shares of Alliance Resource Partners in a research note on Monday, October 30th.

Check Out Our Latest Report on ARLP

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $19.42 on Tuesday. The company has a fifty day simple moving average of $20.78 and a two-hundred day simple moving average of $21.12. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 4.04 and a beta of 1.17. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. Alliance Resource Partners has a 52 week low of $17.05 and a 52 week high of $24.30.

Alliance Resource Partners (NASDAQ:ARLPGet Free Report) last posted its quarterly earnings results on Monday, January 29th. The energy company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.26). The business had revenue of $625.42 million during the quarter, compared to analyst estimates of $672.54 million. Alliance Resource Partners had a return on equity of 35.28% and a net margin of 24.50%. During the same quarter last year, the firm earned $1.63 EPS. As a group, equities analysts anticipate that Alliance Resource Partners will post 4.41 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 14.42%. Alliance Resource Partners’s payout ratio is currently 58.21%.

Insider Buying and Selling at Alliance Resource Partners

In other news, major shareholder Mowry Kathleen Craft sold 13,587 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $21.68, for a total transaction of $294,566.16. Following the completion of the sale, the insider now owns 16,460,025 shares in the company, valued at $356,853,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Kathleen Mowry sold 13,950 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $22.00, for a total value of $306,900.00. Following the completion of the sale, the insider now owns 16,398,650 shares in the company, valued at $360,770,300. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Mowry Kathleen Craft sold 13,587 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $21.68, for a total transaction of $294,566.16. Following the completion of the sale, the insider now owns 16,460,025 shares of the company’s stock, valued at approximately $356,853,342. The disclosure for this sale can be found here. Insiders sold 199,030 shares of company stock worth $4,272,028 over the last 90 days. Corporate insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Alliance Resource Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Alliance Resource Partners by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 108,022 shares of the energy company’s stock valued at $2,195,000 after acquiring an additional 600 shares during the period. Royal Bank of Canada increased its stake in shares of Alliance Resource Partners by 9.0% during the 2nd quarter. Royal Bank of Canada now owns 8,254 shares of the energy company’s stock worth $152,000 after purchasing an additional 683 shares in the last quarter. Mariner LLC increased its stake in shares of Alliance Resource Partners by 4.6% during the 1st quarter. Mariner LLC now owns 22,149 shares of the energy company’s stock worth $342,000 after purchasing an additional 977 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Alliance Resource Partners by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 39,564 shares of the energy company’s stock worth $891,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Alliance Resource Partners by 7.4% during the 4th quarter. Neuberger Berman Group LLC now owns 14,975 shares of the energy company’s stock worth $304,000 after purchasing an additional 1,037 shares in the last quarter. 19.58% of the stock is currently owned by institutional investors and hedge funds.

Alliance Resource Partners Company Profile

(Get Free Report)

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.

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