ValuEngine upgraded shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other brokerages also recently issued reports on ARLP. BidaskClub downgraded Alliance Resource Partners, L.P. from a sell rating to a strong sell rating in a research report on Friday, June 23rd. Zacks Investment Research cut shares of Alliance Resource Partners, L.P. from a hold rating to a sell rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $26.93.

Shares of Alliance Resource Partners, L.P. (NASDAQ ARLP) opened at 19.00 on Monday. Alliance Resource Partners, L.P. has a one year low of $17.65 and a one year high of $26.65.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, July 31st. The energy company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The business had revenue of $398.72 million for the quarter, compared to analyst estimates of $447.68 million. Alliance Resource Partners, L.P. had a return on equity of 34.60% and a net margin of 19.47%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. On average, equities analysts forecast that Alliance Resource Partners, L.P. will post $2.89 EPS for the current fiscal year.

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In other news, Director John P. Neafsey acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $19.55 per share, with a total value of $195,500.00. Following the completion of the purchase, the director now owns 51,604 shares of the company’s stock, valued at approximately $1,008,858.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 44.03% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in Alliance Resource Partners, L.P. by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,284 shares of the energy company’s stock worth $194,000 after acquiring an additional 576 shares in the last quarter. QS Investors LLC boosted its holdings in Alliance Resource Partners, L.P. by 19.3% during the 2nd quarter. QS Investors LLC now owns 13,112 shares of the energy company’s stock valued at $248,000 after acquiring an additional 2,117 shares during the period. IFP Advisors Inc boosted its holdings in Alliance Resource Partners, L.P. by 2.8% during the 2nd quarter. IFP Advisors Inc now owns 13,729 shares of the energy company’s stock valued at $259,000 after acquiring an additional 373 shares during the period. Mariner Wealth Advisors LLC boosted its holdings in Alliance Resource Partners, L.P. by 19.6% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 15,268 shares of the energy company’s stock valued at $289,000 after acquiring an additional 2,500 shares during the period. Finally, Pinnacle Financial Partners Inc. purchased a new position in Alliance Resource Partners, L.P. during the 2nd quarter valued at about $291,000. Hedge funds and other institutional investors own 15.11% of the company’s stock.

About Alliance Resource Partners, L.P.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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