Alliance Resource Partners (NASDAQ:ARLP) Shares Break Below Two Hundred Day Moving Average – Here’s Why

Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $25.65 and traded as low as $25.07. Alliance Resource Partners shares last traded at $25.18, with a volume of 799,469 shares trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research cut shares of Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wall Street Zen upgraded Alliance Resource Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings cut Alliance Resource Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Alliance Resource Partners Trading Down 3.6%

The company’s fifty day moving average is $25.74 and its 200-day moving average is $25.65. The company has a market capitalization of $3.24 billion, a PE ratio of 10.49 and a beta of 0.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32.

Alliance Resource Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.5%. Alliance Resource Partners’s dividend payout ratio is presently 100.00%.

Institutional Investors Weigh In On Alliance Resource Partners

Several hedge funds have recently modified their holdings of ARLP. Lido Advisors LLC grew its position in Alliance Resource Partners by 93.6% in the third quarter. Lido Advisors LLC now owns 2,123,618 shares of the energy company’s stock worth $51,583,000 after acquiring an additional 1,026,862 shares during the period. BCS Wealth Management grew its position in shares of Alliance Resource Partners by 2.1% in the 3rd quarter. BCS Wealth Management now owns 27,761 shares of the energy company’s stock valued at $674,000 after buying an additional 568 shares during the last quarter. StoneX Group Inc. acquired a new position in shares of Alliance Resource Partners in the 3rd quarter valued at $209,000. Arrow Investment Advisors LLC boosted its holdings in shares of Alliance Resource Partners by 17.6% in the third quarter. Arrow Investment Advisors LLC now owns 9,912 shares of the energy company’s stock valued at $241,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Alliance Resource Partners by 1.3% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 77,859 shares of the energy company’s stock valued at $1,891,000 after purchasing an additional 1,010 shares in the last quarter. 18.11% of the stock is owned by hedge funds and other institutional investors.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a diversified natural resource company headquartered in Tulsa, Oklahoma. The company’s primary business is the production and marketing of coal, which it supplies to electric utilities and industrial customers in the United States.

Alliance Resource Partners operates coal mines in the Illinois Basin and Appalachia, producing primarily thermal coal used for electricity generation. Its operations include underground and surface mining, coal processing, transportation and marketing activities.