Alliance Resource Partners, L.P. (NASDAQ:ARLP) Forecasted to Earn Q1 2024 Earnings of $0.97 Per Share

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Noble Financial lowered their Q1 2024 EPS estimates for Alliance Resource Partners in a research note issued on Thursday, April 11th. Noble Financial analyst M. Reichman now forecasts that the energy company will post earnings per share of $0.97 for the quarter, down from their previous estimate of $0.98. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $4.05 per share. Noble Financial also issued estimates for Alliance Resource Partners’ Q2 2024 earnings at $0.96 EPS, Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $0.99 EPS and FY2024 earnings at $3.90 EPS.

Separately, StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th.

Alliance Resource Partners Stock Up 0.6 %

Shares of ARLP opened at $21.01 on Monday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 4.37 and a beta of 1.14. The company has a quick ratio of 1.71, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Alliance Resource Partners has a 12 month low of $17.05 and a 12 month high of $24.30. The company has a 50-day moving average price of $19.84 and a two-hundred day moving average price of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, January 29th. The energy company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.26). The business had revenue of $625.42 million for the quarter, compared to the consensus estimate of $672.54 million. Alliance Resource Partners had a return on equity of 34.90% and a net margin of 24.50%. During the same quarter in the prior year, the business earned $1.63 EPS.

Institutional Trading of Alliance Resource Partners

Several hedge funds have recently modified their holdings of ARLP. Morgan Stanley increased its holdings in shares of Alliance Resource Partners by 5.2% in the fourth quarter. Morgan Stanley now owns 9,263,730 shares of the energy company’s stock valued at $188,239,000 after purchasing an additional 458,382 shares in the last quarter. Magnolia Group LLC boosted its stake in Alliance Resource Partners by 6.0% in the fourth quarter. Magnolia Group LLC now owns 3,214,171 shares of the energy company’s stock valued at $68,076,000 after acquiring an additional 180,720 shares during the last quarter. Bank of America Corp DE boosted its stake in Alliance Resource Partners by 6.4% in the first quarter. Bank of America Corp DE now owns 2,591,924 shares of the energy company’s stock valued at $52,279,000 after acquiring an additional 155,138 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its stake in Alliance Resource Partners by 1.1% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 1,949,324 shares of the energy company’s stock valued at $41,287,000 after acquiring an additional 21,478 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Alliance Resource Partners by 8.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,053,154 shares of the energy company’s stock valued at $16,250,000 after acquiring an additional 81,374 shares during the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

Alliance Resource Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 13.33%. The ex-dividend date was Tuesday, February 6th. Alliance Resource Partners’s payout ratio is 58.21%.

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.