Alliance Resource Partners (NASDAQ:ARLP) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Alliance Resource Partners (NASDAQ:ARLP) released its quarterly earnings results on Monday. The energy company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05), FiscalAI reports. Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The company had revenue of $551.56 million during the quarter, compared to analysts’ expectations of $554.30 million.

Alliance Resource Partners Stock Performance

Shares of Alliance Resource Partners stock opened at $24.71 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.46. Alliance Resource Partners has a 1 year low of $22.20 and a 1 year high of $29.45. The firm’s 50-day simple moving average is $24.68 and its 200-day simple moving average is $25.50. The firm has a market cap of $3.18 billion, a PE ratio of 13.01 and a beta of 0.23.

Institutional Trading of Alliance Resource Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC bought a new position in Alliance Resource Partners during the 4th quarter worth approximately $35,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alliance Resource Partners in the 4th quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alliance Resource Partners by 135.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company’s stock valued at $39,000 after acquiring an additional 875 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of Alliance Resource Partners during the 3rd quarter valued at approximately $46,000. Finally, US Bancorp DE raised its position in shares of Alliance Resource Partners by 28.5% during the 3rd quarter. US Bancorp DE now owns 2,570 shares of the energy company’s stock valued at $65,000 after acquiring an additional 570 shares in the last quarter. 18.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ARLP shares. Zacks Research raised shares of Alliance Resource Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings raised shares of Alliance Resource Partners from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $30.00.

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.