Alliance Resource Partners, L.P. (NASDAQ:ARLP) Declares $0.70 Quarterly Dividend

Alliance Resource Partners, L.P. (NASDAQ:ARLP) announced a quarterly dividend on Friday, April 26th, RTT News reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.70 per share by the energy company on Wednesday, May 15th. This represents a $2.80 annualized dividend and a dividend yield of 12.04%. The ex-dividend date of this dividend is Tuesday, May 7th.

Alliance Resource Partners has increased its dividend payment by an average of 91.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Alliance Resource Partners has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alliance Resource Partners to earn $4.17 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 67.1%.

Alliance Resource Partners Stock Up 1.7 %

ARLP stock opened at $23.25 on Monday. Alliance Resource Partners has a 52 week low of $17.05 and a 52 week high of $24.30. The company has a current ratio of 2.27, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.98 billion, a P/E ratio of 5.09 and a beta of 1.11. The company’s 50-day moving average price is $20.42 and its 200 day moving average price is $20.90.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Monday, April 29th. The energy company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.28. Alliance Resource Partners had a return on equity of 32.06% and a net margin of 23.36%. The business had revenue of $651.70 million for the quarter, compared to analysts’ expectations of $625.32 million. During the same quarter in the prior year, the firm posted $1.45 EPS. On average, research analysts expect that Alliance Resource Partners will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Alliance Resource Partners in a research report on Tuesday, April 30th.

About Alliance Resource Partners

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.