Alliance Resource Partners, L.P. (NASDAQ:ARLP) announced a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Shareholders of record on Friday, February 7th will be given a dividend of 0.40 per share by the energy company on Friday, February 14th. This represents a $1.60 annualized dividend and a yield of 17.24%. The ex-dividend date is Thursday, February 6th.
Alliance Resource Partners has raised its dividend payment by an average of 4.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Alliance Resource Partners has a dividend payout ratio of 167.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alliance Resource Partners to earn $1.03 per share next year, which means the company may not be able to cover its $2.16 annual dividend with an expected future payout ratio of 209.7%.
NASDAQ ARLP traded up $0.06 during midday trading on Tuesday, hitting $9.28. The company had a trading volume of 928,331 shares, compared to its average volume of 709,573. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 2.86 and a beta of 0.86. The firm has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $14.41. Alliance Resource Partners has a fifty-two week low of $8.99 and a fifty-two week high of $20.78.
Several analysts have issued reports on ARLP shares. Zacks Investment Research lowered shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. B. Riley set a $20.00 price target on shares of Alliance Resource Partners and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, BidaskClub lowered shares of Alliance Resource Partners from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.75.
In other Alliance Resource Partners news, CAO Robert J. Fouch acquired 5,000 shares of Alliance Resource Partners stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $10.95 per share, with a total value of $54,750.00. Following the acquisition, the chief accounting officer now owns 55,137 shares of the company’s stock, valued at $603,750.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 44.03% of the stock is currently owned by company insiders.
About Alliance Resource Partners
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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