Alliance Resource Partners (NASDAQ:ARLP) Upgraded to “Strong-Buy” at StockNews.com

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Separately, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Alliance Resource Partners in a research report on Tuesday.

Alliance Resource Partners Price Performance

Shares of Alliance Resource Partners stock opened at $22.61 on Tuesday. The stock’s 50-day simple moving average is $20.20 and its 200-day simple moving average is $20.91. Alliance Resource Partners has a 52 week low of $17.05 and a 52 week high of $24.30. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 4.96 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 (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, April 29th. The energy company reported $1.21 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $625.32 million. During the same period in the previous year, the business earned $1.45 earnings per share. As a group, analysts expect that Alliance Resource Partners will post 4.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alliance Resource Partners

A number of hedge funds have recently made changes to their positions in ARLP. ING Groep NV lifted its position in shares of Alliance Resource Partners by 62.9% in the fourth quarter. ING Groep NV now owns 684,000 shares of the energy company’s stock worth $14,487,000 after buying an additional 264,000 shares in the last quarter. Magnolia Group LLC lifted its position in shares of 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 worth $68,076,000 after buying an additional 180,720 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Alliance Resource Partners by 91.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 282,576 shares of the energy company’s stock valued at $6,366,000 after purchasing an additional 135,226 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners during the third quarter valued at approximately $2,044,000. Finally, Crescent Grove Advisors LLC purchased a new stake in Alliance Resource Partners during the third quarter valued at approximately $2,035,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

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.