FY2024 Earnings Estimate for Alliance Resource Partners, L.P. Issued By Noble Financial (NASDAQ:ARLP)

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Investment analysts at Noble Financial increased their FY2024 EPS estimates for shares of Alliance Resource Partners in a research report issued on Wednesday, May 1st. Noble Financial analyst M. Reichman now anticipates that the energy company will earn $4.14 per share for the year, up from their prior estimate of $3.90. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $3.98 per share.

A number of other research firms have also weighed in on ARLP. StockNews.com raised Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $23.25 on Friday. The business’s fifty day moving average is $20.34 and its 200 day moving average is $20.94. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 5.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.27. Alliance Resource Partners has a 52-week low of $17.05 and a 52-week high of $24.30.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 29th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.28. Alliance Resource Partners had a net margin of 23.36% and a return on equity of 32.06%. The business had revenue of $651.70 million for the quarter, compared to analysts’ expectations of $625.32 million. During the same quarter in the previous year, the firm posted $1.45 EPS.

Institutional Trading of Alliance Resource Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Alliance Resource Partners by 23.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 348,187 shares of the energy company’s stock worth $7,375,000 after buying an additional 65,611 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Alliance Resource Partners during the third quarter valued at about $1,674,000. Crescent Grove Advisors LLC lifted its stake in shares of Alliance Resource Partners by 87.6% in the 4th quarter. Crescent Grove Advisors LLC now owns 169,498 shares of the energy company’s stock valued at $3,590,000 after acquiring an additional 79,155 shares during the last quarter. Alps Advisors Inc. bought a new position in Alliance Resource Partners during the 3rd quarter worth approximately $383,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Alliance Resource Partners in the 3rd quarter worth $2,044,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 12.04%. The ex-dividend date of this dividend is Tuesday, May 7th. Alliance Resource Partners’s dividend payout ratio is 61.27%.

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.