FY2024 EPS Estimates for Alliance Resource Partners, L.P. (NASDAQ:ARLP) Increased by Analyst

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Investment analysts at Noble Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Alliance Resource Partners in a note issued to investors on Wednesday, May 1st. Noble Financial analyst M. Reichman now expects that the energy company will post earnings of $4.14 per share for the year, up from their previous forecast of $3.90. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $3.98 per share.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, April 29th. The energy company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.28. The business had revenue of $651.70 million for the quarter, compared to the consensus estimate of $625.32 million. Alliance Resource Partners had a return on equity of 32.06% and a net margin of 23.36%. During the same quarter in the prior year, the business posted $1.45 EPS.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Alliance Resource Partners in a report on Tuesday.

Alliance Resource Partners Trading Up 1.7 %

Shares of Alliance Resource Partners stock opened at $23.25 on Friday. The company has a fifty day simple moving average of $20.34 and a 200-day simple moving average of $20.94. Alliance Resource Partners has a 12-month low of $17.05 and a 12-month high of $24.30. The company has a current ratio of 2.27, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 5.09 and a beta of 1.11.

Alliance Resource Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 12.04%. The ex-dividend date of this dividend is Tuesday, May 7th. Alliance Resource Partners’s payout ratio is currently 61.27%.

Institutional Trading of Alliance Resource Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in shares of Alliance Resource Partners by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 39,564 shares of the energy company’s stock worth $891,000 after purchasing an additional 1,004 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Alliance Resource Partners by 12.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,203 shares of the energy company’s stock worth $365,000 after purchasing an additional 1,736 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Alliance Resource Partners in the 4th quarter valued at about $42,000. BCS Wealth Management raised its stake in Alliance Resource Partners by 13.0% during the first quarter. BCS Wealth Management now owns 17,903 shares of the energy company’s stock worth $359,000 after purchasing an additional 2,058 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in Alliance Resource Partners by 18.4% during the first quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company’s stock valued at $403,000 after acquiring an additional 3,131 shares during the period. 18.11% of the stock is 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.