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Alliance Resource Partners (NASDAQ:ARLP) Upgraded to Hold by BidaskClub
Posted by Casey Walker on Nov 9th, 2019
BidaskClub upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.
ARLP has been the subject of a number of other research reports. B. Riley set a $20.00 target price on shares of Alliance Resource Partners and gave the stock a hold rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut Alliance Resource Partners from an overweight rating to a neutral rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Monday, August 19th. Clarkson Capital began coverage on Alliance Resource Partners in a report on Tuesday, July 9th. They issued a buy rating and a $20.00 price target for the company. TheStreet cut Alliance Resource Partners from a b- rating to a c+ rating in a report on Monday, August 19th. Finally, Zacks Investment Research cut Alliance Resource Partners from a hold rating to a strong sell rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Alliance Resource Partners presently has a consensus rating of Hold and an average target price of $20.75.
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ARLP traded down $0.01 on Tuesday, reaching $11.71. 698,300 shares of the company's stock were exchanged, compared to its average volume of 503,522. The company's 50 day moving average is $13.96 and its 200-day moving average is $18.90. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 4.80 and a beta of 0.87. Alliance Resource Partners has a twelve month low of $10.30 and a twelve month high of $20.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.73 and a current ratio of 1.10.
Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, October 28th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.47 by ($0.17). The business had revenue of $464.70 million for the quarter, compared to analyst estimates of $503.40 million. Alliance Resource Partners had a return on equity of 25.40% and a net margin of 20.80%. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. Sell-side analysts forecast that Alliance Resource Partners will post 2.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 18.45%. The ex-dividend date of this dividend is Wednesday, November 6th. Alliance Resource Partners's dividend payout ratio is presently 88.52%.
In other Alliance Resource Partners news, Director Wilson M. Torrence bought 5,600 shares of Alliance Resource Partners stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $15.42 per share, for a total transaction of $86,352.00. Following the purchase, the director now owns 39,096 shares in the company, valued at approximately $602,860.32. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Robert J. Fouch bought 5,000 shares of Alliance Resource Partners stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $10.95 per share, with a total value of $54,750.00. Following the completion of the purchase, the chief accounting officer now owns 55,137 shares in the company, valued at approximately $603,750.15. The disclosure for this purchase can be found here. 44.03% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ARLP. Magnolia Group LLC boosted its stake in shares of Alliance Resource Partners by 18.9% during the 2nd quarter. Magnolia Group LLC now owns 3,094,092 shares of the energy company's stock valued at $52,538,000 after buying an additional 490,984 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Alliance Resource Partners by 218.6% during the 2nd quarter. Invesco Ltd. now owns 410,013 shares of the energy company's stock valued at $6,962,000 after buying an additional 281,319 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Alliance Resource Partners by 100.3% during the 2nd quarter. Royal Bank of Canada now owns 96,935 shares of the energy company's stock valued at $1,645,000 after buying an additional 48,541 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Alliance Resource Partners by 11.8% during the 3rd quarter. Foundry Partners LLC now owns 435,361 shares of the energy company's stock valued at $6,970,000 after buying an additional 46,124 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Alliance Resource Partners by 346.5% during the 2nd quarter. Moody Aldrich Partners LLC now owns 44,307 shares of the energy company's stock valued at $752,000 after buying an additional 34,383 shares during the last quarter. Institutional investors own 22.88% of the company's stock.
Alliance Resource Partners Company Profile
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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