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

StockNews.com upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a buy rating in a report released on Friday morning.

Separately, Benchmark restated a “buy” rating and set a $29.00 target price (up previously from $27.00) on shares of Alliance Resource Partners in a research report on Tuesday, February 4th.

Alliance Resource Partners Trading Up 1.3 %

Shares of Alliance Resource Partners stock opened at $27.14 on Friday. The company has a 50-day moving average of $26.14 and a two-hundred day moving average of $26.45. The stock has a market cap of $3.48 billion, a PE ratio of 9.83 and a beta of 0.62. The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a 12-month low of $21.00 and a 12-month high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, February 3rd. The energy company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. On average, research analysts anticipate that Alliance Resource Partners will post 2.72 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a $0.70 dividend. The ex-dividend date was Friday, February 7th. This represents a $2.80 annualized dividend and a dividend yield of 10.32%. Alliance Resource Partners’s dividend payout ratio is currently 101.45%.

Insider Buying and Selling

In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.13, for a total transaction of $1,256,500.00. Following the sale, the senior vice president now directly owns 93,850 shares of the company’s stock, valued at $2,358,450.50. This trade represents a 34.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alliance Resource Partners

Several institutional investors and hedge funds have recently modified their holdings of the company. Progeny 3 Inc. grew its stake in Alliance Resource Partners by 1.3% in the 4th quarter. Progeny 3 Inc. now owns 2,942,211 shares of the energy company’s stock worth $77,351,000 after acquiring an additional 38,030 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alliance Resource Partners by 2.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,815,453 shares of the energy company’s stock valued at $47,728,000 after purchasing an additional 44,636 shares during the period. Recurrent Investment Advisors LLC increased its stake in Alliance Resource Partners by 0.5% in the fourth quarter. Recurrent Investment Advisors LLC now owns 1,151,070 shares of the energy company’s stock valued at $30,262,000 after purchasing an additional 5,925 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Alliance Resource Partners during the fourth quarter worth about $14,564,000. Finally, Huntleigh Advisors Inc. acquired a new stake in Alliance Resource Partners in the 1st quarter worth about $14,190,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

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.