Alliance Resource Partners, L.P. (NASDAQ:ARLP) Announces Quarterly Dividend of $0.70

Alliance Resource Partners, L.P. (NASDAQ:ARLP) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Thursday, May 8th will be given a dividend of 0.70 per share by the energy company on Thursday, May 15th. This represents a $2.80 annualized dividend and a dividend yield of 10.34%. The ex-dividend date is Thursday, May 8th.

Alliance Resource Partners has increased its dividend by an average of 91.3% per year over the last three years. Alliance Resource Partners has a payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Alliance Resource Partners to earn $3.63 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 77.1%.

Alliance Resource Partners Stock Down 0.9 %

Shares of NASDAQ:ARLP opened at $27.07 on Wednesday. The firm has a 50 day simple moving average of $26.20 and a 200-day simple moving average of $26.55. The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a twelve month low of $21.84 and a twelve month high of $30.56. The company has a market capitalization of $3.48 billion, a PE ratio of 9.81 and a beta of 0.62.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. The company had revenue of $540.47 million for the quarter, compared to analysts’ expectations of $556.31 million. On average, equities analysts predict that Alliance Resource Partners will post 2.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARLP shares. StockNews.com cut Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark reiterated a “buy” rating and issued a $29.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday.

Insiders Place Their Bets

In other news, SVP Timothy J. Whelan sold 50,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.13, for a total value of $1,256,500.00. Following the completion of the transaction, the senior vice president now directly owns 93,850 shares in the company, valued at approximately $2,358,450.50. This represents a 34.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.80% of the stock is owned by corporate insiders.

About Alliance Resource Partners

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.