Alliance Holdings GP, L.P. (AHGP) Shares Down 2.2%
Alliance Holdings GP, L.P. (NASDAQ:AHGP) fell 2.2% during trading on Friday . The stock traded as low as $24.00 and last traded at $24.27, with a volume of 70,442 shares traded. The stock had previously closed at $24.81.
Separately, Zacks Investment Research upgraded shares of Alliance Holdings GP, L.P. from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Friday, July 29th.
The firm has a market cap of $1.45 billion and a price-to-earnings ratio of 8.98. The company has a 50 day moving average of $24.24 and a 200-day moving average of $18.57.
Alliance Holdings GP, L.P. (NASDAQ:AHGP) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The company had revenue of $439.04 million for the quarter, compared to the consensus estimate of $427.63 million. The company’s quarterly revenue was down 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Analysts predict that Alliance Holdings GP, L.P. will post $2.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 12th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 9.11%. The ex-dividend date was Wednesday, August 10th.
In other news, Director Robert J. Druten sold 12,825 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $19.60, for a total transaction of $251,370.00. Following the sale, the director now directly owns 7,538 shares in the company, valued at $147,744.80. The sale was disclosed in a document filed with the SEC, which is available at this link.
Alliance Holdings GP, L.P. is a limited partnership company. The Company owns directly and indirectly 100% of the members’ interest in Alliance Resource Management GP, LLC (MGP), the managing general partner of Alliance Resource Partners, L.P. (ARLP). The Company’s segments include Illinois Basin, Appalachia, and Other and Corporate.
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