Wall Street Zen Downgrades Alliance Resource Partners (NASDAQ:ARLP) to Buy

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the company. Alliance Global Partners began coverage on Alliance Resource Partners in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Benchmark reissued a “buy” rating on shares of Alliance Resource Partners in a research note on Tuesday, October 28th. Industrial Alliance Securities set a $30.00 price objective on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Alliance Resource Partners in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Alliance Resource Partners Stock Performance

NASDAQ ARLP opened at $23.29 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.90. The stock’s fifty day moving average is $24.00 and its two-hundred day moving average is $24.67. The firm has a market capitalization of $2.99 billion, a P/E ratio of 12.39 and a beta of 0.32. Alliance Resource Partners has a fifty-two week low of $22.20 and a fifty-two week high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, October 27th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $571.40 million for the quarter, compared to analyst estimates of $567.03 million. Alliance Resource Partners had a return on equity of 14.75% and a net margin of 10.88%. On average, research analysts anticipate that Alliance Resource Partners will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Progeny 3 Inc. lifted its position in Alliance Resource Partners by 6.9% in the third quarter. Progeny 3 Inc. now owns 3,274,381 shares of the energy company’s stock valued at $82,793,000 after acquiring an additional 211,400 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its position in shares of Alliance Resource Partners by 0.8% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,117,392 shares of the energy company’s stock valued at $53,538,000 after purchasing an additional 17,603 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Alliance Resource Partners in the 2nd quarter valued at $17,847,000. Barclays PLC grew its position in Alliance Resource Partners by 3.3% during the 3rd quarter. Barclays PLC now owns 657,191 shares of the energy company’s stock worth $16,617,000 after purchasing an additional 21,116 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alliance Resource Partners by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after buying an additional 23,579 shares during the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

About Alliance Resource Partners

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.