Alliance Resource Partners (NASDAQ:ARLP) Stock Rating Upgraded by Wall Street Zen

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other research analysts have also recently commented on ARLP. Benchmark reiterated a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, October 28th. Alliance Global Partners initiated coverage on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Industrial Alliance Securities set a $30.00 price objective on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Alliance Resource Partners in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.50.

Alliance Resource Partners Stock Performance

Shares of NASDAQ ARLP opened at $23.69 on Monday. The stock’s fifty day simple moving average is $24.53 and its 200 day simple moving average is $25.07. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 12.60 and a beta of 0.30. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a 52-week low of $22.20 and a 52-week high of $30.56.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARLP. Bank of New York Mellon Corp acquired a new stake in shares of Alliance Resource Partners during the 1st quarter valued at about $205,000. Cetera Investment Advisers increased its holdings in Alliance Resource Partners by 8.0% in the first quarter. Cetera Investment Advisers now owns 52,268 shares of the energy company’s stock worth $1,426,000 after buying an additional 3,880 shares during the last quarter. LPL Financial LLC raised its position in Alliance Resource Partners by 9.2% during the first quarter. LPL Financial LLC now owns 80,797 shares of the energy company’s stock valued at $2,204,000 after acquiring an additional 6,810 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Alliance Resource Partners by 21.4% in the first quarter. Moors & Cabot Inc. now owns 14,752 shares of the energy company’s stock valued at $402,000 after acquiring an additional 2,600 shares during the last quarter. Finally, AlphaCore Capital LLC lifted its stake in Alliance Resource Partners by 47.8% in the first quarter. AlphaCore Capital LLC now owns 26,091 shares of the energy company’s stock valued at $712,000 after acquiring an additional 8,444 shares during the last quarter. 18.11% of the stock is owned by institutional investors and hedge funds.

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.