Alliance Resource Partners (ARLP) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $22.00 price target on the energy company’s stock.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

ARLP has been the subject of several other research reports. BidaskClub cut shares of Alliance Resource Partners from a sell rating to a strong sell rating in a research note on Friday, July 13th. TheStreet upgraded shares of Alliance Resource Partners from a c+ rating to a b rating in a research note on Monday, October 29th. Finally, ValuEngine upgraded shares of Alliance Resource Partners from a sell rating to a hold rating in a research note on Friday, October 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $23.20.

ARLP stock remained flat at $$19.55 during mid-day trading on Wednesday. 397,723 shares of the company’s stock were exchanged, compared to its average volume of 666,095. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 0.90. Alliance Resource Partners has a one year low of $15.55 and a one year high of $21.90. The company has a market capitalization of $2.56 billion, a PE ratio of 6.81 and a beta of 0.79.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Monday, October 29th. The energy company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.20). Alliance Resource Partners had a net margin of 19.96% and a return on equity of 25.32%. The firm had revenue of $497.80 million for the quarter, compared to the consensus estimate of $506.23 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Alliance Resource Partners will post 2.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 10.74%. The ex-dividend date of this dividend is Tuesday, November 6th. Alliance Resource Partners’s payout ratio is presently 73.17%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new stake in shares of Alliance Resource Partners in the third quarter valued at about $146,000. Moody Aldrich Partners LLC bought a new stake in shares of Alliance Resource Partners in the third quarter valued at about $248,000. Intrust Bank NA lifted its stake in shares of Alliance Resource Partners by 36.1% in the second quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock valued at $265,000 after buying an additional 3,831 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Alliance Resource Partners by 29.0% in the second quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock valued at $302,000 after buying an additional 3,708 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Alliance Resource Partners in the third quarter valued at about $506,000. Institutional investors and hedge funds own 29.18% of the company’s stock.

About Alliance Resource Partners

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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