Alliance Resource Partners (NASDAQ:ARLP) Hits New 12-Month High – What’s Next?

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $28.93 and last traded at $28.85, with a volume of 24992 shares trading hands. The stock had previously closed at $28.49.

Wall Street Analysts Forecast Growth

ARLP has been the subject of several research analyst reports. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Benchmark raised their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th.

Alliance Resource Partners Stock Down 1.4 %

The business’s fifty day moving average price is $25.67 and its 200 day moving average price is $24.56. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 8.00 and a beta of 1.14. 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 (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.16). Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. The business had revenue of $613.57 million for the quarter, compared to analysts’ expectations of $646.17 million. During the same period in the previous year, the business posted $1.18 earnings per share. On average, equities analysts expect that Alliance Resource Partners, L.P. will post 3.2 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 9.94%. The ex-dividend date was Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio is presently 79.55%.

Institutional Investors Weigh In On Alliance Resource Partners

Large investors have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new position in Alliance Resource Partners during the 2nd quarter worth approximately $27,000. Beacon Capital Management LLC boosted its position in Alliance Resource Partners by 135.8% during the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock worth $36,000 after purchasing an additional 842 shares in the last quarter. Cove Street Capital LLC purchased a new stake in shares of Alliance Resource Partners in the 2nd quarter worth about $49,000. Mather Group LLC. acquired a new stake in shares of Alliance Resource Partners in the second quarter valued at approximately $51,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Alliance Resource Partners during the 1st quarter worth approximately $54,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

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.