Alliance Resource Partners (NASDAQ:ARLP) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.76 and traded as high as $26.55. Alliance Resource Partners shares last traded at $26.54, with a volume of 125,108 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen raised Alliance Resource Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Alliance Resource Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Finally, Zacks Research lowered Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Alliance Resource Partners presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Alliance Resource Partners Stock Up 0.8%

The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.41 billion, a P/E ratio of 12.92 and a beta of 0.21. The firm’s 50 day moving average price is $25.21 and its two-hundred day moving average price is $25.77.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, July 27th. The energy company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%.The business had revenue of $551.56 million for the quarter, compared to analyst estimates of $554.30 million. Equities research analysts forecast that Alliance Resource Partners, L.P. will post 2.65 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 9.1%. The ex-dividend date was Friday, August 7th. Alliance Resource Partners’s payout ratio is currently 117.07%.

Insiders Place Their Bets

In other Alliance Resource Partners news, Director Ronna McDaniel bought 3,000 shares of Alliance Resource Partners stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $26.11 per share, with a total value of $78,330.00. Following the completion of the transaction, the director owned 3,000 shares in the company, valued at $78,330. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.80% of the company’s stock.

Institutional Trading of Alliance Resource Partners

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of Alliance Resource Partners by 7.0% during the first quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock valued at $519,000 after purchasing an additional 1,254 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alliance Resource Partners by 0.7% in the second quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock worth $3,091,000 after buying an additional 855 shares in the last quarter. Jump Financial LLC bought a new position in Alliance Resource Partners during the second quarter valued at $418,000. HUB Investment Partners LLC lifted its holdings in shares of Alliance Resource Partners by 4.0% in the 2nd quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock worth $342,000 after acquiring an additional 499 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alliance Resource Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock worth $13,552,000 after acquiring an additional 23,579 shares in the last quarter. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

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.