Alliance Resource Partners, L.P. (ARLP) Trading Up 1.3%
Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price was up 1.3% during trading on Wednesday . The stock traded as high as $20.56 and last traded at $20.48, with a volume of 119,517 shares changing hands. The stock had previously closed at $20.21.
Several equities analysts have commented on ARLP shares. Zacks Investment Research downgraded Alliance Resource Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. FBR & Co increased their price target on Alliance Resource Partners, L.P. from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.50.
The firm’s 50 day moving average price is $19.21 and its 200 day moving average price is $15.26. The company has a market cap of $1.52 billion and a P/E ratio of 12.70.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.27. The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $444.13 million. The business’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. On average, analysts expect that Alliance Resource Partners, L.P. will post $2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were given a dividend of $0.4375 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $1.75 dividend on an annualized basis and a yield of 8.58%.
In related news, VP Robert J. Fouch sold 17,000 shares of Alliance Resource Partners, L.P. stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $19.34, for a total transaction of $328,780.00. Following the transaction, the vice president now owns 33,242 shares in the company, valued at $642,900.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
A hedge fund recently raised its stake in Alliance Resource Partners, L.P. stock. Morgan Stanley increased its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 75.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 878,997 shares of the company’s stock after buying an additional 377,083 shares during the period. Morgan Stanley owned 1.18% of Alliance Resource Partners, L.P. worth $11,858,000 as of its most recent SEC filing.
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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