Alliance Resource Partners (NASDAQ:ARLP) Receives Buy Rating from Benchmark

Alliance Resource Partners (NASDAQ:ARLP)‘s stock had its “buy” rating reaffirmed by Benchmark in a research note issued on Tuesday,Benzinga reports. They currently have a $29.00 target price on the energy company’s stock. Benchmark’s price target would indicate a potential upside of 9.64% from the stock’s current price.

Separately, StockNews.com downgraded shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th.

Alliance Resource Partners Trading Down 2.3 %

Shares of ARLP stock opened at $26.45 on Tuesday. Alliance Resource Partners has a 12-month low of $21.84 and a 12-month high of $30.56. The company has a market capitalization of $3.40 billion, a P/E ratio of 9.58 and a beta of 0.62. The firm has a 50-day moving average price of $26.19 and a 200 day moving average price of $26.55. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). Alliance Resource Partners had a net margin of 14.74% and a return on equity of 19.09%. The firm had revenue of $540.47 million for the quarter, compared to the consensus estimate of $556.31 million. Research analysts forecast that Alliance Resource Partners will post 2.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Timothy J. Whelan sold 50,000 shares of Alliance Resource Partners stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 93,850 shares in the company, valued at $2,358,450.50. The trade was a 34.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Alliance Resource Partners

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC grew its holdings in Alliance Resource Partners by 1.2% during the third quarter. Tidal Investments LLC now owns 34,283 shares of the energy company’s stock valued at $857,000 after purchasing an additional 391 shares during the period. AlphaCore Capital LLC grew its holdings in Alliance Resource Partners by 2.6% during the fourth quarter. AlphaCore Capital LLC now owns 17,647 shares of the energy company’s stock valued at $464,000 after purchasing an additional 444 shares during the period. Cadent Capital Advisors LLC grew its holdings in Alliance Resource Partners by 1.9% during the fourth quarter. Cadent Capital Advisors LLC now owns 23,816 shares of the energy company’s stock valued at $626,000 after purchasing an additional 453 shares during the period. BCS Wealth Management grew its holdings in Alliance Resource Partners by 2.4% during the fourth quarter. BCS Wealth Management now owns 19,971 shares of the energy company’s stock valued at $525,000 after purchasing an additional 476 shares during the period. Finally, Virtus ETF Advisers LLC grew its holdings in Alliance Resource Partners by 7.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 7,278 shares of the energy company’s stock valued at $191,000 after purchasing an additional 511 shares during the period. 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.