Alliance Resource Partners (NASDAQ:ARLP) Upgraded to “Hold” by BidaskClub

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BidaskClub upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a sell rating to a hold rating in a research note issued to investors on Thursday, August 1st, BidAskClub reports.

Several other research analysts have also recently weighed in on ARLP. Zacks Investment Research cut shares of Alliance Resource Partners from a hold rating to a strong sell rating in a report on Tuesday, July 2nd. B. Riley cut shares of Alliance Resource Partners from a buy rating to a neutral rating and decreased their price target for the stock from $22.00 to $20.00 in a report on Wednesday, July 17th. Seaport Global Securities cut shares of Alliance Resource Partners from a buy rating to a neutral rating in a report on Monday, July 29th. Clarkson Capital initiated coverage on Alliance Resource Partners in a research note on Tuesday, July 9th. They issued a buy rating and a $20.00 target price on the stock. Finally, ValuEngine raised Alliance Resource Partners from a sell rating to a hold rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $20.33.

Alliance Resource Partners stock opened at $14.49 on Thursday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 5.94 and a beta of 0.95. The business’s 50 day simple moving average is $16.99 and its 200 day simple moving average is $18.35. Alliance Resource Partners has a 12 month low of $14.41 and a 12 month high of $20.99. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Friday, July 26th. The energy company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.21). The company had revenue of $517.10 million for the quarter, compared to analysts’ expectations of $531.10 million. Alliance Resource Partners had a return on equity of 27.63% and a net margin of 22.14%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, equities research analysts forecast that Alliance Resource Partners will post 2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.54 per share. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.54. This represents a $2.16 dividend on an annualized basis and a dividend yield of 14.91%. The ex-dividend date of this dividend was Tuesday, August 6th. Alliance Resource Partners’s dividend payout ratio (DPR) is 88.52%.

In other news, Director Wilson M. Torrence bought 5,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $15.42 per share, for a total transaction of $86,352.00. Following the completion of the acquisition, the director now owns 39,096 shares in the company, valued at approximately $602,860.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Druten sold 12,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $17.13, for a total transaction of $205,560.00. Following the sale, the director now owns 25,628 shares of the company’s stock, valued at $439,007.64. The disclosure for this sale can be found here. 44.03% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Brand Asset Management Group Inc. purchased a new stake in Alliance Resource Partners in the second quarter worth about $35,000. NEXT Financial Group Inc purchased a new stake in Alliance Resource Partners in the second quarter worth about $60,000. Valeo Financial Advisors LLC lifted its holdings in Alliance Resource Partners by 185.7% in the second quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock worth $60,000 after buying an additional 2,291 shares during the period. Arlington Partners LLC purchased a new stake in Alliance Resource Partners in the second quarter worth about $114,000. Finally, Cetera Advisors LLC purchased a new stake in Alliance Resource Partners in the first quarter worth about $203,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

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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