Alliance Resource Partners (NASDAQ:ARLP) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Other equities analysts have also recently issued research reports about the company. Industrial Alliance Securities set a $30.00 price objective on Alliance Resource Partners in a report on Wednesday, September 24th. Alliance Global Partners started coverage on shares of Alliance Resource Partners in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alliance Resource Partners in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Alliance Resource Partners Price Performance

Alliance Resource Partners stock opened at $23.57 on Friday. Alliance Resource Partners has a 12-month low of $22.20 and a 12-month high of $30.56. The company has a current ratio of 1.96, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $24.47 and a 200-day moving average price of $25.16. The firm has a market capitalization of $3.03 billion, a PE ratio of 12.54 and a beta of 0.55.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, October 27th. The energy company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $571.40 million for the quarter, compared to analyst estimates of $567.03 million. Alliance Resource Partners had a net margin of 10.88% and a return on equity of 14.75%. As a group, equities research analysts forecast that Alliance Resource Partners will post 2.72 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $2.40 dividend on an annualized basis and a yield of 10.2%. Alliance Resource Partners’s dividend payout ratio is 127.66%.

Institutional Investors Weigh In On Alliance Resource Partners

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in shares of Alliance Resource Partners during the first quarter valued at approximately $205,000. Cetera Investment Advisers boosted its position in Alliance Resource Partners by 8.0% during the 1st quarter. Cetera Investment Advisers now owns 52,268 shares of the energy company’s stock valued at $1,426,000 after acquiring an additional 3,880 shares in the last quarter. Texas Yale Capital Corp. increased its holdings in shares of Alliance Resource Partners by 46.7% in the 1st quarter. Texas Yale Capital Corp. now owns 18,977 shares of the energy company’s stock valued at $518,000 after acquiring an additional 6,040 shares during the period. LPL Financial LLC raised its position in shares of Alliance Resource Partners by 9.2% in the 1st quarter. LPL Financial LLC now owns 80,797 shares of the energy company’s stock worth $2,204,000 after acquiring an additional 6,810 shares in the last quarter. Finally, MGO One Seven LLC purchased a new stake in shares of Alliance Resource Partners during the 1st quarter worth $6,220,000. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Company Profile

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.