Alliance Resource Partners, L.P. Forecasted to Earn FY2024 Earnings of $4.14 Per Share (NASDAQ:ARLP)

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Investment analysts at Noble Financial raised their FY2024 earnings per share (EPS) estimates for shares of Alliance Resource Partners in a research report issued on Wednesday, May 1st. Noble Financial analyst M. Reichman now anticipates that the energy company will earn $4.14 per share for the year, up from their previous forecast of $3.90. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $4.10 per share.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, April 29th. The energy company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.28. The business had revenue of $651.70 million for the quarter, compared to analyst estimates of $625.32 million. Alliance Resource Partners had a return on equity of 32.06% and a net margin of 23.36%. During the same quarter in the previous year, the firm earned $1.45 earnings per share.

Several other research firms also recently commented on ARLP. StockNews.com upgraded shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Alliance Resource Partners in a research note on Tuesday, April 30th.

Alliance Resource Partners Stock Up 1.7 %

NASDAQ:ARLP opened at $23.25 on Friday. 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 twelve month low of $17.05 and a twelve month high of $24.30. The company has a market cap of $2.98 billion, a PE ratio of 5.09 and a beta of 1.11. The company’s 50 day moving average is $20.42 and its two-hundred day moving average is $20.94.

Alliance Resource Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $2.80 annualized dividend and a yield of 12.04%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 61.27%.

Hedge Funds Weigh In On Alliance Resource Partners

Institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the 4th quarter valued at $42,000. Chiron Investment Management LLC acquired a new position in Alliance Resource Partners during the third quarter valued at $128,000. Tortoise Investment Management LLC acquired a new position in Alliance Resource Partners during the fourth quarter valued at $151,000. Advisory Services Network LLC purchased a new stake in Alliance Resource Partners in the fourth quarter valued at $182,000. Finally, Counterpoint Mutual Funds LLC grew its position 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 worth $211,000 after purchasing an additional 5,592 shares during the period. 18.11% of the stock is owned by hedge funds and other institutional investors.

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.