Wall Street Zen Upgrades Alliance Resource Partners (NASDAQ:ARLP) to Strong-Buy

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Industrial Alliance Securities set a $30.00 price objective on Alliance Resource Partners in a research note on Wednesday, September 24th. Alliance Global Partners started coverage on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alliance Resource Partners in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Alliance Resource Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Alliance Resource Partners Price Performance

Alliance Resource Partners stock opened at $24.98 on Friday. The business’s 50 day simple moving average is $24.35 and its 200 day simple moving average is $25.27. Alliance Resource Partners has a 12 month low of $22.20 and a 12 month high of $30.56. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 13.29 and a beta of 0.55. The company has a current ratio of 1.96, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 27th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Alliance Resource Partners had a return on equity of 14.75% and a net margin of 10.88%.The business had revenue of $571.40 million during the quarter, compared to the consensus estimate of $567.03 million. Sell-side analysts forecast that Alliance Resource Partners will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARLP. Progeny 3 Inc. lifted its position in Alliance Resource Partners by 0.9% during the second quarter. Progeny 3 Inc. now owns 3,062,981 shares of the energy company’s stock valued at $80,066,000 after purchasing an additional 26,490 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in shares of Alliance Resource Partners by 0.8% during the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,117,392 shares of the energy company’s stock valued at $53,538,000 after buying an additional 17,603 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Alliance Resource Partners during the 2nd quarter worth $17,847,000. Barclays PLC grew its position in Alliance Resource Partners by 3.3% in the third quarter. Barclays PLC now owns 657,191 shares of the energy company’s stock worth $16,617,000 after acquiring an additional 21,116 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Alliance Resource Partners by 0.3% in the first quarter. Raymond James Financial Inc. now owns 555,667 shares of the energy company’s stock worth $15,159,000 after acquiring an additional 1,697 shares in the last quarter. 18.11% of the stock is currently owned by institutional investors.

Alliance Resource Partners Company Profile

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.