Alliance Resource Partners (NASDAQ:ARLP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Alliance Resource Partners, L.P. (NASDAQ:ARLP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.78 and traded as high as $26.21. Alliance Resource Partners shares last traded at $26.16, with a volume of 235,562 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research cut Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Alliance Resource Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised Alliance Resource Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Alliance Resource Partners Price Performance

The stock has a market cap of $3.33 billion, a P/E ratio of 12.62 and a beta of 0.21. The company’s 50 day moving average price is $25.71 and its 200-day moving average price is $25.78. 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 issued its quarterly earnings data 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 business had revenue of $551.56 million during the quarter, compared to the consensus estimate of $554.30 million. Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%. As a group, sell-side analysts expect that Alliance Resource Partners, L.P. will post 2.65 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date was Friday, August 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is 117.07%.

Insider Activity at Alliance Resource Partners

In related news, Director Ronna McDaniel acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $26.11 per share, with a total value of $78,330.00. Following the completion of the purchase, the director directly owned 3,000 shares in the company, valued at $78,330. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 16.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Alliance Resource Partners in the 1st quarter worth approximately $28,000. Fort Sheridan Advisors LLC increased its position in shares of Alliance Resource Partners by 7.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 15,427 shares of the energy company’s stock worth $358,000 after buying an additional 1,044 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Alliance Resource Partners during the second quarter worth $28,000. Pin Oak Investment Advisors Inc. bought a new position in Alliance Resource Partners during the second quarter worth $30,000. Finally, MCF Advisors LLC raised its stake in Alliance Resource Partners by 161.4% during the second quarter. MCF Advisors LLC now owns 2,614 shares of the energy company’s stock worth $63,000 after buying an additional 1,614 shares during the last quarter. Institutional investors 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 organized as a master limited partnership. The company primarily produces and markets coal through its subsidiary, Alliance Coal, LLC, supplying fuel to electric utilities and industrial customers in the United States.

Alliance operates mining complexes in the Illinois Basin and Appalachia, including properties in Illinois, Kentucky, and West Virginia. Its coal products are used mainly for electricity generation, and the company markets its production through long-term and spot sales agreements with domestic utility customers.

In addition to its coal operations, Alliance owns mineral and royalty interests tied to oil and natural gas production, as well as other mineral assets.