Alliance Resource Partners (NASDAQ:ARLP) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings lowered Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Alliance Resource Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Alliance Resource Partners Price Performance

Shares of NASDAQ:ARLP opened at $25.67 on Monday. 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 has a 1-year low of $22.20 and a 1-year high of $29.45. The company has a market capitalization of $3.30 billion, a P/E ratio of 12.52 and a beta of 0.22. The firm’s 50 day simple moving average is $24.76 and its two-hundred day simple moving average is $25.63.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, July 27th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $551.56 million during the quarter, compared to analysts’ expectations of $554.30 million. Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%. Research analysts expect that Alliance Resource Partners will post 2.65 EPS for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend was Friday, August 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 117.07%.

Insider Transactions at Alliance Resource Partners

In related news, Director Ronna R. Mcdaniel purchased 3,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $26.11 per share, for a total transaction of $78,330.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at $78,330. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Alliance Resource Partners

Several large investors have recently made changes to their positions in ARLP. Royal Bank of Canada boosted its stake in Alliance Resource Partners by 7.0% during the first quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock valued at $519,000 after buying an additional 1,254 shares during the last quarter. Geode Capital Management LLC increased its stake in Alliance Resource Partners by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock worth $3,091,000 after acquiring an additional 855 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Alliance Resource Partners during the 2nd quarter worth approximately $418,000. HUB Investment Partners LLC raised its holdings in shares of Alliance Resource Partners by 4.0% during the 2nd quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock worth $342,000 after acquiring an additional 499 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alliance Resource Partners by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after acquiring an additional 23,579 shares during 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.