Alliance Resource Partners (NASDAQ:ARLP) Sees Large Volume Increase Following Strong Earnings

Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares saw an uptick in trading volume on Monday following a stronger than expected earnings report. 172,987 shares were traded during trading, a decline of 60% from the previous session’s volume of 435,968 shares.The stock last traded at $22.10 and had previously closed at $21.15.

The energy company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.28. Alliance Resource Partners had a net margin of 24.50% and a return on equity of 34.90%. The business had revenue of $651.70 million for the quarter, compared to the consensus estimate of $625.32 million. During the same period in the previous year, the company earned $1.45 earnings per share.

Alliance Resource Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $2.80 annualized dividend and a dividend yield of 12.48%. Alliance Resource Partners’s dividend payout ratio is currently 58.21%.

Analysts Set New Price Targets

Several research firms have commented on ARLP. StockNews.com upgraded shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Alliance Resource Partners in a research report on Tuesday.

Institutional Investors Weigh In On Alliance Resource Partners

A number of institutional investors have recently modified their holdings of the business. J.W. Cole Advisors Inc. lifted its position in Alliance Resource Partners by 18.4% during the first quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company’s stock worth $403,000 after purchasing an additional 3,131 shares during the period. Commonwealth Equity Services LLC lifted its position in Alliance Resource Partners by 36.5% during the first quarter. Commonwealth Equity Services LLC now owns 53,357 shares of the energy company’s stock worth $1,070,000 after purchasing an additional 14,255 shares during the period. Crew Capital Management Ltd. bought a new stake in Alliance Resource Partners during the first quarter worth about $307,000. Crescent Grove Advisors LLC lifted its position in Alliance Resource Partners by 3.4% during the first quarter. Crescent Grove Advisors LLC now owns 175,250 shares of the energy company’s stock worth $3,514,000 after purchasing an additional 5,752 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Alliance Resource Partners by 3.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 359,669 shares of the energy company’s stock worth $7,211,000 after acquiring an additional 11,482 shares during the last quarter. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Price Performance

The stock has a market cap of $2.87 billion, a P/E ratio of 4.66 and a beta of 1.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 1.71. The business’s fifty day moving average price is $20.13 and its 200 day moving average price is $20.92.

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.