Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.70 and last traded at $29.10, with a volume of 386106 shares trading hands. The stock had previously closed at $27.77.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Benchmark raised their target price on Alliance Resource Partners from $26.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Singular Research lowered shares of Alliance Resource Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, December 2nd. Finally, StockNews.com downgraded shares of Alliance Resource Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 15th.
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Alliance Resource Partners Price Performance
The company has a 50 day moving average of $26.95 and a 200 day moving average of $25.46. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.36. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 8.31 and a beta of 1.17.
Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.16). The company had revenue of $613.57 million for the quarter, compared to analyst estimates of $646.17 million. Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts anticipate that Alliance Resource Partners, L.P. will post 3.19 EPS for the current year.
Alliance Resource Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a $0.70 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.58%. Alliance Resource Partners's payout ratio is 79.55%.
Insider Transactions at Alliance Resource Partners
In other news, SVP Timothy J. Whelan sold 10,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. Following the sale, the senior vice president now owns 157,946 shares of the company's stock, valued at approximately $4,422,488. This trade represents a 5.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.80% of the company's stock.
Hedge Funds Weigh In On Alliance Resource Partners
Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of Alliance Resource Partners by 89.8% in the 2nd quarter. Creative Planning now owns 72,099 shares of the energy company's stock valued at $1,764,000 after buying an additional 34,106 shares in the last quarter. Progeny 3 Inc. boosted its stake in Alliance Resource Partners by 2.8% in the second quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company's stock valued at $68,669,000 after acquiring an additional 75,340 shares in the last quarter. BCS Wealth Management boosted its stake in Alliance Resource Partners by 5.7% in the third quarter. BCS Wealth Management now owns 19,495 shares of the energy company's stock valued at $487,000 after acquiring an additional 1,056 shares in the last quarter. Cadent Capital Advisors LLC grew its holdings in shares of Alliance Resource Partners by 11.3% during the third quarter. Cadent Capital Advisors LLC now owns 23,363 shares of the energy company's stock worth $584,000 after purchasing an additional 2,377 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Alliance Resource Partners during the third quarter worth about $72,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.
Alliance Resource Partners Company Profile
(
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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.
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