BidaskClub downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a sell rating to a strong sell rating in a report published on Saturday.
Several other research firms have also weighed in on ARLP. Stifel Nicolaus set a $22.00 price target on Alliance Resource Partners and gave the company a hold rating in a research report on Tuesday, January 16th. Zacks Investment Research raised Alliance Resource Partners from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Friday, February 2nd. B. Riley reissued a buy rating and issued a $30.00 target price on shares of Alliance Resource Partners in a report on Tuesday, January 30th. Finally, ValuEngine downgraded Alliance Resource Partners from a buy rating to a hold rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $26.25.
Shares of Alliance Resource Partners (ARLP) opened at $17.80 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 0.97. Alliance Resource Partners has a 1 year low of $17.48 and a 1 year high of $23.45. The firm has a market capitalization of $2,330.00, a P/E ratio of 5.80 and a beta of 0.77.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 11.46%. This is an increase from Alliance Resource Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, February 6th. Alliance Resource Partners’s payout ratio is 66.45%.
A number of institutional investors have recently added to or reduced their stakes in ARLP. Alliancebernstein L.P. boosted its holdings in Alliance Resource Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,284 shares of the energy company’s stock worth $194,000 after acquiring an additional 576 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Alliance Resource Partners by 16.2% in the third quarter. Principal Financial Group Inc. now owns 1,754,786 shares of the energy company’s stock worth $33,954,000 after acquiring an additional 245,133 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Alliance Resource Partners in the third quarter worth $193,000. Russell Investments Group Ltd. boosted its holdings in Alliance Resource Partners by 2.5% in the third quarter. Russell Investments Group Ltd. now owns 197,964 shares of the energy company’s stock worth $3,831,000 after acquiring an additional 4,772 shares in the last quarter. Finally, ING Groep NV bought a new stake in Alliance Resource Partners in the third quarter worth $1,935,000. 14.36% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This piece was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.themarketsdaily.com/2018/03/14/alliance-resource-partners-arlp-downgraded-to-strong-sell-at-bidaskclub.html.
About Alliance Resource Partners
Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.
Receive News & Ratings for Alliance Resource Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Resource Partners and related companies with MarketBeat.com's FREE daily email newsletter.