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

by · The Markets Daily

Alliance Resource Partners, L.P. (NASDAQ:ARLPGet Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.98 and traded as high as $28.29. Alliance Resource Partners shares last traded at $28.17, with a volume of 196,165 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on ARLP shares. Wall Street Zen cut shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a research note on Saturday. Benchmark restated a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, February 3rd. Weiss Ratings lowered shares of Alliance Resource Partners from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, March 16th. Finally, Zacks Research downgraded shares of Alliance Resource Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alliance Resource Partners presently has a consensus rating of “Hold” and an average target price of $29.50.

Read Our Latest Analysis on ARLP

Alliance Resource Partners Stock Performance

The company has a current ratio of 2.10, a quick ratio of 1.41 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $26.51 and its 200-day moving average is $25.01. The firm has a market capitalization of $3.62 billion, a P/E ratio of 11.74 and a beta of 0.31.

Alliance Resource Partners (NASDAQ:ARLPGet Free Report) last announced its earnings results on Monday, February 2nd. The energy company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The firm had revenue of $535.51 million for the quarter, compared to the consensus estimate of $556.82 million. Alliance Resource Partners had a net margin of 14.18% and a return on equity of 18.41%. As a group, sell-side analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, February 6th. This represents a $2.40 annualized dividend and a yield of 8.5%. Alliance Resource Partners’s dividend payout ratio is presently 100.00%.

Hedge Funds Weigh In On Alliance Resource Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased 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 purchasing an additional 1,641,741 shares during the period. Progeny 3 Inc. raised its holdings in Alliance Resource Partners by 0.3% in the 4th quarter. Progeny 3 Inc. now owns 3,282,671 shares of the energy company’s stock valued at $76,256,000 after acquiring an additional 8,290 shares in the last quarter. Jackson Hole Capital Partners LLC boosted its stake in Alliance Resource Partners by 0.8% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,117,392 shares of the energy company’s stock worth $53,538,000 after buying an additional 17,603 shares in the last quarter. ING Groep NV increased 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 valued at $15,518,000 after buying an additional 289,900 shares during the period. Finally, Barclays PLC lifted its holdings in shares of 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 acquiring an additional 21,116 shares during the period. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Company Profile

(Get Free Report)

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.

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