Alliance Resource Partners (NASDAQ:ARLP) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. Clarkson Capital assumed coverage on Alliance Resource Partners in a research report on Tuesday, July 9th. They set a buy rating and a $20.00 price target on the stock. Zacks Investment Research downgraded Alliance Resource Partners from a hold rating to a strong sell rating in a research report on Tuesday, July 2nd. B. Riley downgraded Alliance Resource Partners from a buy rating to a neutral rating and lowered their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, July 17th. Seaport Global Securities downgraded Alliance Resource Partners from a buy rating to a neutral rating in a research report on Monday, July 29th. Finally, ValuEngine raised Alliance Resource Partners from a sell rating to a hold rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Alliance Resource Partners currently has an average rating of Hold and a consensus price target of $20.33.

Shares of NASDAQ:ARLP traded down $0.46 during midday trading on Friday, reaching $16.00. The company had a trading volume of 300,128 shares, compared to its average volume of 499,392. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 1.02. The company’s 50 day moving average is $17.20. The firm has a market capitalization of $2.11 billion, a PE ratio of 6.56 and a beta of 0.95. Alliance Resource Partners has a 1-year low of $15.87 and a 1-year high of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Friday, July 26th. The energy company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.21). The company had revenue of $517.10 million during the quarter, compared to analyst estimates of $531.10 million. Alliance Resource Partners had a net margin of 22.14% and a return on equity of 27.63%. Alliance Resource Partners’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts expect that Alliance Resource Partners will post 2.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 13.50%. The ex-dividend date is Tuesday, August 6th. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.54. Alliance Resource Partners’s payout ratio is currently 88.52%.

In other news, Director Robert J. Druten sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $17.13, for a total transaction of $205,560.00. Following the completion of the sale, the director now owns 25,628 shares in the company, valued at $439,007.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 44.03% of the company’s stock.

Several large investors have recently modified their holdings of the company. LPL Financial LLC increased its stake in Alliance Resource Partners by 7.3% in the 2nd quarter. LPL Financial LLC now owns 67,871 shares of the energy company’s stock valued at $1,152,000 after buying an additional 4,633 shares during the last quarter. Van ECK Associates Corp increased its stake in Alliance Resource Partners by 2.4% in the 2nd quarter. Van ECK Associates Corp now owns 167,614 shares of the energy company’s stock valued at $2,846,000 after buying an additional 3,878 shares during the last quarter. Coastal Investment Advisors Inc. increased its stake in Alliance Resource Partners by 452.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 13,784 shares of the energy company’s stock valued at $233,000 after buying an additional 11,288 shares during the last quarter. Van Leeuwen & Company LLC increased its stake in Alliance Resource Partners by 19.2% in the 2nd quarter. Van Leeuwen & Company LLC now owns 47,403 shares of the energy company’s stock valued at $805,000 after buying an additional 7,624 shares during the last quarter. Finally, Magnolia Group LLC increased its stake in Alliance Resource Partners by 18.9% in the 2nd quarter. Magnolia Group LLC now owns 3,094,092 shares of the energy company’s stock valued at $52,538,000 after buying an additional 490,984 shares during the last quarter. Institutional investors own 24.82% 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.

See Also: Tariff

Receive News & Ratings for Alliance Resource Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Resource Partners and related companies with MarketBeat.com's FREE daily email newsletter.