Alliance Resource Partners (NASDAQ:ARLP) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.23 and traded as high as $25.40. Alliance Resource Partners shares last traded at $25.27, with a volume of 504,278 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ARLP shares. Zacks Research raised shares of Alliance Resource Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen lowered Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, February 3rd. Finally, Weiss Ratings lowered Alliance Resource Partners from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.00.

Alliance Resource Partners Stock Up 2.6%

The company has a market cap of $3.25 billion, a PE ratio of 13.30 and a beta of 0.26. The company’s 50 day moving average is $26.76 and its 200 day moving average is $25.23. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 27th. The energy company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.28). Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The firm had revenue of $516.02 million during the quarter, compared to analysts’ expectations of $518.24 million. As a group, analysts predict that Alliance Resource Partners, L.P. will post 2.45 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Friday, May 8th. Alliance Resource Partners’s dividend payout ratio is currently 126.32%.

Institutional Investors Weigh In On Alliance Resource Partners

Several hedge funds have recently made changes to their positions in ARLP. Royal Bank of Canada lifted its holdings in shares of Alliance Resource Partners by 7.0% in the 1st quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock worth $519,000 after buying an additional 1,254 shares during the period. Geode Capital Management LLC increased its holdings in Alliance Resource Partners by 0.7% during the second quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock valued at $3,091,000 after buying an additional 855 shares during the period. Jump Financial LLC purchased a new position in Alliance Resource Partners during the second quarter valued at approximately $418,000. HUB Investment Partners LLC increased its holdings in Alliance Resource Partners by 4.0% during the second quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock valued at $342,000 after buying an additional 499 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alliance Resource Partners by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after buying an additional 23,579 shares during the period. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.