Benchmark Boosts Alliance Resource Partners (NASDAQ:ARLP) Price Target to $27.00

Alliance Resource Partners (NASDAQ:ARLP - Free Report) had its target price hoisted by Benchmark from $26.00 to $27.00 in a report issued on Tuesday morning, Benzinga reports. Benchmark currently has a buy rating on the energy company's stock.

Separately, StockNews.com lowered Alliance Resource Partners from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 31st.

Alliance Resource Partners Price Performance

NASDAQ:ARLP traded up $0.11 during trading hours on Tuesday, hitting $25.61. 272,671 shares of the company's stock traded hands, compared to its average volume of 380,726. The firm has a market cap of $3.28 billion, a P/E ratio of 5.60 and a beta of 1.13. Alliance Resource Partners has a 52 week low of $18.32 and a 52 week high of $26.21. The business's fifty day simple moving average is $24.35 and its two-hundred day simple moving average is $23.86. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.16). The business had revenue of $613.57 million for the quarter, compared to the consensus estimate of $646.17 million. Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. During the same period in the prior year, the business posted $1.18 EPS. On average, research analysts anticipate that Alliance Resource Partners will post 3.56 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 10.93%. The ex-dividend date is Thursday, November 7th. Alliance Resource Partners's dividend payout ratio (DPR) is currently 61.27%.

Institutional Investors Weigh In On Alliance Resource Partners

Several hedge funds have recently added to or reduced their stakes in the company. Continuum Advisory LLC purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $27,000. Beacon Capital Management LLC increased its holdings in shares of Alliance Resource Partners by 135.8% in the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company's stock worth $36,000 after buying an additional 842 shares during the period. Cove Street Capital LLC purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $49,000. Mather Group LLC. purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $51,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Alliance Resource Partners in the first quarter worth about $54,000. Institutional investors 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.