Alliance Resource Partners (NASDAQ:ARLP) Rating Lowered to “Hold” at Zacks Research

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

ARLP has been the topic of a number of other reports. Wall Street Zen raised shares of Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings cut shares of Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Alliance Resource Partners Stock Down 1.0%

Shares of ARLP opened at $25.67 on Monday. Alliance Resource Partners has a 52-week low of $22.20 and a 52-week high of $29.45. The company has a market capitalization of $3.30 billion, a PE ratio of 12.52 and a beta of 0.22. The stock has a fifty day simple moving average of $24.76 and a two-hundred day simple moving average of $25.63. The company has a quick ratio of 1.32, a current ratio of 1.75 and a debt-to-equity ratio of 0.28.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $551.56 million for the quarter, compared to analyst estimates of $554.30 million. Alliance Resource Partners had a net margin of 12.25% and a return on equity of 17.70%. As a group, equities analysts forecast that Alliance Resource Partners will post 2.65 EPS for the current year.

Insider Buying and Selling at Alliance Resource Partners

In other Alliance Resource Partners news, Director Ronna R. Mcdaniel acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $26.11 per share, with a total value of $78,330.00. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at $78,330. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Alliance Resource Partners by 7.0% during the first quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock valued at $519,000 after acquiring an additional 1,254 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alliance Resource Partners by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock worth $3,091,000 after acquiring an additional 855 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Alliance Resource Partners during the 2nd quarter worth approximately $418,000. HUB Investment Partners LLC boosted its position in shares of Alliance Resource Partners by 4.0% during the 2nd quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock worth $342,000 after purchasing an additional 499 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alliance Resource Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after purchasing an additional 23,579 shares during the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

About Alliance Resource Partners

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.