Alliance Resource Partners (NASDAQ:ARLP) Cut to Buy at Wall Street Zen

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other brokerages have also recently weighed in on ARLP. Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alliance Resource Partners in a research report on Monday. Alliance Global Partners started coverage on Alliance Resource Partners in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Industrial Alliance Securities set a $30.00 target price on Alliance Resource Partners in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Alliance Resource Partners currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Alliance Resource Partners Price Performance

Alliance Resource Partners stock opened at $23.29 on Friday. Alliance Resource Partners has a 52-week low of $22.20 and a 52-week high of $30.56. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 12.39 and a beta of 0.32. The company has a fifty day simple moving average of $24.00 and a 200-day simple moving average of $24.69. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, October 27th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Alliance Resource Partners had a net margin of 10.88% and a return on equity of 14.75%. The firm had revenue of $571.40 million for the quarter, compared to the consensus estimate of $567.03 million. On average, equities analysts anticipate that Alliance Resource Partners will post 2.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARLP. Parvin Asset Management LLC acquired a new position in shares of Alliance Resource Partners in the 2nd quarter worth approximately $27,000. MCF Advisors LLC boosted its position in shares of Alliance Resource Partners by 37.7% during the second quarter. MCF Advisors LLC now owns 1,377 shares of the energy company’s stock worth $36,000 after buying an additional 377 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Alliance Resource Partners by 135.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company’s stock worth $39,000 after buying an additional 875 shares during the period. Triumph Capital Management acquired a new stake in shares of Alliance Resource Partners in the third quarter valued at $46,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.