Alliance Resource Partners (ARLP) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $22.00 target price on the energy company’s stock.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Alliance Resource Partners from a c+ rating to a b rating in a research report on Monday, October 29th. ValuEngine upgraded shares of Alliance Resource Partners from a sell rating to a hold rating in a research report on Thursday, November 1st. Finally, BidaskClub upgraded shares of Alliance Resource Partners from a sell rating to a hold rating in a research report on Tuesday, October 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Alliance Resource Partners presently has a consensus rating of Buy and an average target price of $23.20.

Shares of ARLP traded up $0.06 during trading hours on Wednesday, hitting $19.54. The stock had a trading volume of 9,937 shares, compared to its average volume of 669,055. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 0.90. Alliance Resource Partners has a fifty-two week low of $15.55 and a fifty-two week high of $21.90. The stock has a market cap of $2.54 billion, a P/E ratio of 6.80 and a beta of 0.79.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, October 29th. The energy company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.20). Alliance Resource Partners had a net margin of 19.96% and a return on equity of 25.32%. The firm had revenue of $497.80 million during the quarter, compared to analyst estimates of $506.23 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that Alliance Resource Partners will post 2.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 10.75%. The ex-dividend date is Tuesday, November 6th. Alliance Resource Partners’s dividend payout ratio is presently 73.17%.

A number of large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its position in Alliance Resource Partners by 29.0% during the second quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after acquiring an additional 3,708 shares during the period. Intrust Bank NA raised its position in Alliance Resource Partners by 36.1% during the second quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock worth $265,000 after acquiring an additional 3,831 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Alliance Resource Partners by 9.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,429 shares of the energy company’s stock worth $1,172,000 after acquiring an additional 5,184 shares during the period. FMR LLC raised its position in Alliance Resource Partners by 0.7% during the second quarter. FMR LLC now owns 836,100 shares of the energy company’s stock worth $15,342,000 after acquiring an additional 5,700 shares during the period. Finally, Whittier Trust Co. acquired a new stake in shares of Alliance Resource Partners in the third quarter valued at about $146,000. Institutional investors own 29.18% of the company’s stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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