Zacks Research Downgrades Alliance Resource Partners (NASDAQ:ARLP) to Hold

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on ARLP. Weiss Ratings cut Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Alliance Resource Partners presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Alliance Resource Partners Stock Performance

Alliance Resource Partners stock opened at $25.67 on Monday. 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 firm has a market cap of $3.30 billion, a P/E ratio of 12.52 and a beta of 0.22. Alliance Resource Partners has a 1-year low of $22.20 and a 1-year high of $29.45. The firm has a 50-day moving average of $24.76 and a 200-day moving average of $25.63.

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

Insider Buying and Selling

In other Alliance Resource Partners news, Director Ronna R. Mcdaniel bought 3,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $26.11 per share, with a total value of $78,330.00. Following the transaction, the director owned 3,000 shares in the company, valued at $78,330. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HUB Investment Partners LLC lifted its position in shares of Alliance Resource Partners by 4.0% in the second quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company’s stock valued at $342,000 after acquiring an additional 499 shares in the last quarter. US Bancorp DE grew its position in shares of Alliance Resource Partners by 28.5% during the third quarter. US Bancorp DE now owns 2,570 shares of the energy company’s stock worth $65,000 after purchasing an additional 570 shares in the last quarter. AlphaCore Capital LLC grew its position in shares of Alliance Resource Partners by 2.4% during the fourth quarter. AlphaCore Capital LLC now owns 27,193 shares of the energy company’s stock worth $632,000 after purchasing an additional 633 shares in the last quarter. Pinnacle Holdings LLC raised its stake in Alliance Resource Partners by 0.5% during the 4th quarter. Pinnacle Holdings LLC now owns 129,423 shares of the energy company’s stock valued at $3,006,000 after purchasing an additional 653 shares during the period. Finally, Geode Capital Management LLC raised its stake in Alliance Resource Partners by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock valued at $3,091,000 after purchasing an additional 855 shares during the period. Institutional investors own 18.11% of the company’s stock.

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.