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

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

ARLP has been the subject of a number of other reports. 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. Weiss Ratings downgraded Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $30.00.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $25.42 on Friday. The business’s 50-day moving average is $24.75 and its two-hundred day moving average is $25.61. The firm has a market capitalization of $3.27 billion, a PE ratio of 12.40 and a beta of 0.22. Alliance Resource Partners has a 12 month low of $22.20 and a 12 month high of $29.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $551.56 million during the quarter, compared to analysts’ expectations of $554.30 million. Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%. Research analysts predict that Alliance Resource Partners will post 2.65 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ronna R. Mcdaniel bought 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $26.11 per share, for a total transaction of $78,330.00. Following the purchase, the director owned 3,000 shares in the company, valued at $78,330. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Alliance Resource Partners

A number of hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Alliance Resource Partners by 95.4% during the 4th quarter. Morgan Stanley now owns 3,363,174 shares of the energy company’s stock worth $78,127,000 after buying an additional 1,641,741 shares during the period. Energy Income Partners LLC raised its holdings in Alliance Resource Partners by 145.9% in the 1st quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company’s stock worth $20,387,000 after acquiring an additional 437,486 shares during the period. ING Groep NV raised its holdings in Alliance Resource Partners by 76.7% in the 4th quarter. ING Groep NV now owns 668,000 shares of the energy company’s stock worth $15,518,000 after acquiring an additional 289,900 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Alliance Resource Partners by 1,636.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 268,637 shares of the energy company’s stock worth $6,792,000 after acquiring an additional 253,165 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Alliance Resource Partners during the 1st quarter worth $6,830,000. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Alliance Resource Partners Company Profile

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.