Alliance Resource Partners (NASDAQ:ARLP) Stock Crosses Below 200-Day Moving Average – What’s Next?

Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $25.65 and traded as low as $25.07. Alliance Resource Partners shares last traded at $25.18, with a volume of 799,469 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of Alliance Resource Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Wall Street Zen raised Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research cut Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Alliance Resource Partners currently has an average rating of “Moderate Buy”.

Alliance Resource Partners Stock Performance

The company has a market capitalization of $3.24 billion, a P/E ratio of 10.49 and a beta of 0.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $25.74 and its two-hundred day simple moving average is $25.65.

Alliance Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Friday, November 6th. Alliance Resource Partners’s dividend payout ratio is presently 100.00%.

Hedge Funds Weigh In On Alliance Resource Partners

Large investors have recently bought and sold shares of the company. Dayah Capital LLC bought a new position in Alliance Resource Partners in the first quarter valued at $1,825,000. Pinnacle Holdings LLC acquired a new position in shares of Alliance Resource Partners in the second quarter valued at $3,074,000. Bank of America Corp DE raised its holdings in Alliance Resource Partners by 74.2% in the 1st quarter. Bank of America Corp DE now owns 269,655 shares of the energy company’s stock valued at $7,456,000 after acquiring an additional 114,880 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Alliance Resource Partners during the first quarter worth approximately $6,830,000. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Alliance Resource Partners during the first quarter worth $1,397,000. 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 diversified natural resource company headquartered in Tulsa, Oklahoma. The company’s primary business is the production and marketing of coal, which it supplies to electric utilities and industrial customers in the United States.

Alliance Resource Partners operates coal mines in the Illinois Basin and Appalachia, producing primarily thermal coal used for electricity generation. Its operations include underground and surface mining, coal processing, transportation and marketing activities.