Alliance Resource Partners (NASDAQ:ARLP) Raised to “Strong-Buy” at Wall Street Zen

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

A number of other analysts have also recently weighed in on the company. Zacks Research cut Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings downgraded Alliance Resource Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Alliance Resource Partners currently has an average rating of “Moderate Buy”.

Alliance Resource Partners Stock Performance

ARLP opened at $25.27 on Friday. The company has a market cap of $3.25 billion, a P/E ratio of 10.53 and a beta of 0.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.32 and a current ratio of 1.37. Alliance Resource Partners has a one year low of $23.01 and a one year high of $29.45. The business’s 50-day simple moving average is $25.55 and its 200-day simple moving average is $25.66.

Institutional Investors Weigh In On Alliance Resource Partners

A number of large investors have recently added to or reduced their stakes in ARLP. Lido Advisors LLC raised its holdings in shares of Alliance Resource Partners by 93.6% in the third quarter. Lido Advisors LLC now owns 2,123,618 shares of the energy company’s stock worth $51,583,000 after acquiring an additional 1,026,862 shares during the last quarter. Energy Income Partners LLC increased its holdings in shares of Alliance Resource Partners by 145.9% during the 1st quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company’s stock worth $20,387,000 after buying an additional 437,486 shares during the last quarter. Bank of America Corp DE raised its position in shares of Alliance Resource Partners by 74.2% in the 1st quarter. Bank of America Corp DE now owns 269,655 shares of the energy company’s stock worth $7,456,000 after buying an additional 114,880 shares during the period. Mizuho Markets Americas LLC purchased a new position in shares of Alliance Resource Partners in the 1st quarter worth $6,830,000. Finally, Adams Asset Advisors LLC raised its position in shares of Alliance Resource Partners by 2.2% in the 3rd quarter. Adams Asset Advisors LLC now owns 264,797 shares of the energy company’s stock worth $6,432,000 after buying an additional 5,784 shares during the period. 18.11% of the stock is owned by institutional investors and hedge funds.

About Alliance Resource Partners

Alliance Resource Partners, L.P. is a diversified natural resource company best known for producing and marketing coal. Its coal is sold primarily to electric utilities for power generation, along with customers in other industrial markets. The partnership operates coal mines in the Illinois Basin and Appalachia, serving customers in the United States and international markets. Its activities also include oil and gas royalty interests and other mineral interests, which provide exposure to resources beyond coal.