Alliance Resource Partners (NASDAQ:ARLP) Reaches New 12-Month High – Here’s What Happened

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $28.99 and last traded at $28.89, with a volume of 28597 shares. The stock had previously closed at $28.60.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research downgraded Alliance Resource Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Weiss Ratings downgraded Alliance Resource Partners from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, March 16th. Wall Street Zen lowered Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Finally, Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alliance Resource Partners presently has an average rating of “Hold” and an average target price of $29.50.

Alliance Resource Partners Trading Up 0.8%

The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 12.01 and a beta of 0.30. The business has a 50-day moving average of $26.00 and a two-hundred day moving average of $24.76. The company has a quick ratio of 1.41, a current ratio of 2.10 and a debt-to-equity ratio of 0.23.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, February 2nd. The energy company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.61 by $0.14. Alliance Resource Partners had a return on equity of 18.41% and a net margin of 14.18%.The firm had revenue of $535.51 million during the quarter, compared to analysts’ expectations of $556.82 million. Research analysts predict that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.3%. Alliance Resource Partners’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARLP. Rockefeller Capital Management L.P. increased its holdings in Alliance Resource Partners by 24.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 31,328 shares of the energy company’s stock valued at $728,000 after buying an additional 6,141 shares during the period. State of Tennessee Department of Treasury bought a new position in shares of Alliance Resource Partners during the 4th quarter worth about $209,000. Progeny 3 Inc. lifted its holdings in shares of Alliance Resource Partners by 0.3% during the 4th quarter. Progeny 3 Inc. now owns 3,282,671 shares of the energy company’s stock worth $76,256,000 after acquiring an additional 8,290 shares during the period. Miller Value Partners LLC boosted its position in shares of Alliance Resource Partners by 3.9% during the 4th quarter. Miller Value Partners LLC now owns 132,000 shares of the energy company’s stock valued at $3,066,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Alliance Resource Partners by 19.7% during the 4th quarter. Cetera Investment Advisers now owns 67,950 shares of the energy company’s stock valued at $1,578,000 after acquiring an additional 11,204 shares in the last quarter. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.