Alliance Resource Partners (NASDAQ:ARLP) Stock Rating Upgraded by StockNews.com

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Separately, Benchmark raised their price objective on shares of 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 Price Performance

Alliance Resource Partners stock traded down $0.08 during mid-day trading on Thursday, hitting $26.81. The company’s stock had a trading volume of 665,524 shares, compared to its average volume of 236,092. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.43 billion, a P/E ratio of 7.62 and a beta of 1.14. Alliance Resource Partners has a twelve month low of $18.32 and a twelve month high of $27.80. The stock’s fifty day moving average price is $24.69 and its two-hundred day moving average price is $24.10.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results 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). The business had revenue of $613.57 million during the quarter, compared to analyst estimates of $646.17 million. Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. During the same quarter last year, the firm posted $1.18 EPS. Research analysts forecast that Alliance Resource Partners will post 3.2 earnings per share for the current year.

Hedge Funds Weigh In On Alliance Resource Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC acquired a new position in Alliance Resource Partners in the 1st quarter worth approximately $3,566,000. Pathway Financial Advisers LLC boosted its stake in shares of Alliance Resource Partners by 2,400.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock valued at $1,692,000 after buying an additional 64,968 shares during the period. Creative Planning boosted its stake in shares of Alliance Resource Partners by 89.8% during the 2nd quarter. Creative Planning now owns 72,099 shares of the energy company’s stock valued at $1,764,000 after buying an additional 34,106 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Alliance Resource Partners during the 3rd quarter valued at $7,500,000. Finally, Progeny 3 Inc. boosted its stake in shares of Alliance Resource Partners by 2.8% during the 2nd quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company’s stock valued at $68,669,000 after buying an additional 75,340 shares during the period. Institutional investors and hedge funds 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.