Alliance Resource Partners (NASDAQ:ARLP) Sets New 12-Month High at $21.58

Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP – Get Rating) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.58 and last traded at $21.20, with a volume of 5836 shares traded. The stock had previously closed at $20.85.

Analyst Ratings Changes

Several brokerages have issued reports on ARLP. StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 13th. Noble Financial began coverage on shares of Alliance Resource Partners in a research report on Wednesday, March 30th. They set an “outperform” rating and a $22.00 price objective for the company.

Alliance Resource Partners Price Performance

The company’s fifty day moving average price is $19.17 and its 200 day moving average price is $16.46. The company has a market capitalization of $2.64 billion, a P/E ratio of 14.21 and a beta of 1.40. The company has a quick ratio of 1.53, a current ratio of 2.00 and a debt-to-equity ratio of 0.34.

Alliance Resource Partners (NASDAQ:ARLP – Get Rating) last announced its earnings results on Monday, May 2nd. The energy company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.32). Alliance Resource Partners had a return on equity of 15.92% and a net margin of 11.10%. The business had revenue of $460.86 million for the quarter, compared to the consensus estimate of $483.56 million. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, sell-side analysts forecast that Alliance Resource Partners, L.P. will post 3.44 EPS for the current year.

Alliance Resource Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 5th. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 6.75%. Alliance Resource Partners’s dividend payout ratio (DPR) is currently 95.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its holdings in shares of Alliance Resource Partners by 8.9% during the fourth quarter. Raymond James & Associates now owns 80,055 shares of the energy company’s stock worth $1,012,000 after purchasing an additional 6,554 shares during the period. JFS Wealth Advisors LLC raised its position in Alliance Resource Partners by 1.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 82,651 shares of the energy company’s stock valued at $1,045,000 after purchasing an additional 1,527 shares in the last quarter. JNBA Financial Advisors bought a new stake in Alliance Resource Partners during the fourth quarter worth $32,000. True North Advisors LLC acquired a new stake in shares of Alliance Resource Partners in the 4th quarter valued at $126,000. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of Alliance Resource Partners by 20.5% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 55,000 shares of the energy company’s stock valued at $695,000 after purchasing an additional 9,350 shares during the last quarter. 22.79% of the stock is owned by 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.