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

StockNews.com upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Separately, Benchmark reiterated a buy rating and set a $25.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday.

Alliance Resource Partners Stock Up 1.0 %

Shares of NASDAQ ARLP opened at $22.43 on Tuesday. The stock has a fifty day moving average price of $20.13 and a 200 day moving average price of $20.92. The company has a current ratio of 2.27, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. Alliance Resource Partners has a 12-month low of $17.05 and a 12-month high of $24.30. The company has a market cap of $2.87 billion, a P/E ratio of 4.66 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 29th. The energy company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.28. The company had revenue of $651.70 million during the quarter, compared to the consensus estimate of $625.32 million. Alliance Resource Partners had a return on equity of 34.90% and a net margin of 24.50%. During the same quarter in the prior year, the business earned $1.45 earnings per share. Research analysts anticipate that Alliance Resource Partners will post 4.05 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.70 per share. 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 presently 58.21%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new stake in Alliance Resource Partners during the 4th quarter worth approximately $42,000. Chiron Investment Management LLC bought a new stake in shares of Alliance Resource Partners in the third quarter worth $128,000. Tortoise Investment Management LLC bought a new stake in shares of Alliance Resource Partners in the fourth quarter worth $151,000. Advisory Services Network LLC acquired a new stake in Alliance Resource Partners in the fourth quarter valued at $182,000. Finally, Counterpoint Mutual Funds LLC boosted its stake in Alliance Resource Partners by 128.5% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 9,943 shares of the energy company’s stock valued at $211,000 after acquiring an additional 5,592 shares during the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

About Alliance Resource Partners

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.