Alliance Resource Partners (NASDAQ:ARLP) Hits New 52-Week High – Here’s Why

Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.93 and last traded at $28.85, with a volume of 24992 shares traded. The stock had previously closed at $28.49.

Analysts Set New Price Targets

ARLP has been the subject of a number of recent research reports. Benchmark raised their price target on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. StockNews.com downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th.

Alliance Resource Partners Trading Down 1.4 %

The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $25.67 and a two-hundred day moving average price of $24.56. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 8.00 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.16). The firm had revenue of $613.57 million for the quarter, compared to analyst estimates of $646.17 million. Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. During the same quarter in the previous year, the business posted $1.18 earnings per share. As a group, research analysts forecast that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date of this dividend was Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio is presently 79.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its position in shares of Alliance Resource Partners by 1.2% during the third quarter. Tidal Investments LLC now owns 34,283 shares of the energy company’s stock worth $857,000 after buying an additional 391 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in Alliance Resource Partners by 0.9% in the third quarter. Pekin Hardy Strauss Inc. now owns 46,905 shares of the energy company’s stock valued at $1,173,000 after purchasing an additional 400 shares during the period. AlphaCore Capital LLC lifted its position in shares of Alliance Resource Partners by 3.0% during the 3rd quarter. AlphaCore Capital LLC now owns 17,203 shares of the energy company’s stock worth $430,000 after purchasing an additional 503 shares during the last quarter. BCS Wealth Management grew its stake in shares of Alliance Resource Partners by 3.0% during the second quarter. BCS Wealth Management now owns 18,439 shares of the energy company’s stock worth $451,000 after purchasing an additional 536 shares in the last quarter. Finally, Andina Capital Management LLC increased its holdings in Alliance Resource Partners by 3.9% in the second quarter. Andina Capital Management LLC now owns 14,426 shares of the energy company’s stock valued at $353,000 after buying an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 18.11% of the company’s stock.

About Alliance Resource Partners

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.