Alliance Resource Partners, L.P. (ARLP) Trading 2.7% Higher
Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price traded up 2.7% during mid-day trading on Friday . The company traded as high as $19.83 and last traded at $19.56, with a volume of 223,165 shares. The stock had previously closed at $19.05.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Alliance Resource Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Monday, August 1st. FBR & Co increased their price objective on Alliance Resource Partners, L.P. from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $22.50.
The firm has a 50 day moving average price of $17.67 and a 200-day moving average price of $14.50. The stock has a market capitalization of $1.48 billion and a PE ratio of 12.41.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.27. The business had revenue of $439.20 million for the quarter, compared to the consensus estimate of $444.13 million. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Analysts predict that Alliance Resource Partners, L.P. will post $2.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 8.79%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In other Alliance Resource Partners, L.P. news, VP Robert J. Fouch sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $19.34, for a total transaction of $328,780.00. Following the completion of the transaction, the vice president now owns 33,242 shares in the company, valued at $642,900.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds and institutional investors have made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Alliance Resource Partners, L.P. during the fourth quarter worth approximately $2,493,000. Morgan Stanley boosted its position in shares of Alliance Resource Partners, L.P. by 75.1% in the fourth quarter. Morgan Stanley now owns 878,997 shares of the company’s stock worth $11,858,000 after buying an additional 377,083 shares in the last quarter. Finally, Magnolia Group LLC acquired a new position in shares of Alliance Resource Partners, L.P. during the fourth quarter worth approximately $22,519,000.
Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.
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