Alliance Resource Partners (NASDAQ:ARLP) Upgraded to Strong-Buy at StockNews.com

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Separately, Benchmark reaffirmed a “buy” rating and set a $28.00 price target on shares of Alliance Resource Partners in a research report on Monday, October 30th.

Alliance Resource Partners Stock Performance

Shares of ARLP stock opened at $21.64 on Friday. The company’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $20.14. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.75 billion, a PE ratio of 3.89 and a beta of 1.28. Alliance Resource Partners has a 12 month low of $17.05 and a 12 month high of $24.30.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Friday, October 27th. The energy company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). Alliance Resource Partners had a return on equity of 41.65% and a net margin of 27.55%. The business had revenue of $636.52 million during the quarter, compared to the consensus estimate of $667.52 million. During the same period in the prior year, the firm earned $1.25 EPS. Equities research analysts expect that Alliance Resource Partners will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at Alliance Resource Partners

In other Alliance Resource Partners news, major shareholder Mowry Kathleen Craft sold 32,891 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $22.45, for a total value of $738,402.95. Following the transaction, the insider now directly owns 16,548,097 shares in the company, valued at $371,504,777.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Alliance Resource Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Tucker Asset Management LLC acquired a new position in shares of Alliance Resource Partners in the first quarter valued at about $26,000. Money Concepts Capital Corp acquired a new position in shares of Alliance Resource Partners in the fourth quarter valued at about $29,000. Allworth Financial LP acquired a new position in shares of Alliance Resource Partners in the second quarter valued at about $57,000. Tower Research Capital LLC TRC grew its stake in shares of Alliance Resource Partners by 107.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the energy company’s stock valued at $77,000 after acquiring an additional 2,152 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Alliance Resource Partners in the third quarter valued at about $98,000. 19.58% of the stock is currently owned by institutional investors and hedge funds.

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.