Alliance Resource Partners (NASDAQ:ARLP) Lowered to Buy Rating by StockNews.com

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

Separately, Benchmark upped their price objective on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 29th.

Alliance Resource Partners Trading Down 1.0 %

Shares of ARLP traded down $0.27 during midday trading on Friday, reaching $26.79. The company had a trading volume of 423,533 shares, compared to its average volume of 385,924. The firm has a 50 day simple moving average of $25.11 and a 200-day simple moving average of $24.32. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.43 billion, a PE ratio of 7.61 and a beta of 1.14. Alliance Resource Partners has a 1-year low of $18.32 and a 1-year high of $27.80.

Alliance Resource Partners (NASDAQ:ARLP) last released 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). The firm had revenue of $613.57 million for the quarter, compared to analyst estimates of $646.17 million. Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. During the same quarter in the previous year, the business posted $1.18 earnings per share. Research analysts forecast that Alliance Resource Partners will post 3.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Alliance Resource Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Recurrent Investment Advisors LLC increased its holdings in Alliance Resource Partners by 6.2% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,145,145 shares of the energy company’s stock valued at $28,629,000 after purchasing an additional 66,761 shares during the last quarter. NFC Investments LLC raised its holdings in shares of Alliance Resource Partners by 2.5% in the 3rd quarter. NFC Investments LLC now owns 69,800 shares of the energy company’s stock valued at $1,745,000 after buying an additional 1,700 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Alliance Resource Partners during the 3rd quarter worth about $206,000. Progeny 3 Inc. grew its position in Alliance Resource Partners by 3.4% in the 3rd quarter. Progeny 3 Inc. now owns 2,904,181 shares of the energy company’s stock valued at $72,605,000 after acquiring an additional 96,780 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Alliance Resource Partners by 48.4% during the third quarter. BNP Paribas Financial Markets now owns 22,446 shares of the energy company’s stock worth $561,000 after purchasing an additional 7,321 shares during the period. 18.11% of the stock is owned by hedge funds and other 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.