Zacks Investment Research upgraded shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) from a strong sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

A number of other brokerages have also issued reports on ARLP. FBR & Co reiterated an outperform rating and issued a $29.00 price target (up previously from $27.00) on shares of Alliance Resource Partners, L.P. in a research note on Tuesday, May 2nd. BidaskClub upgraded Alliance Resource Partners, L.P. from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Finally, ValuEngine lowered Alliance Resource Partners, L.P. from a strong-buy rating to a buy rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $26.93.

Shares of Alliance Resource Partners, L.P. (NASDAQ ARLP) opened at 18.30 on Friday. Alliance Resource Partners, L.P. has a 52-week low of $17.65 and a 52-week high of $26.65.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, July 31st. The energy company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.09. Alliance Resource Partners, L.P. had a return on equity of 34.60% and a net margin of 19.47%. The business had revenue of $398.72 million during the quarter, compared to analyst estimates of $447.68 million. During the same quarter in the prior year, the business posted $0.82 EPS. Alliance Resource Partners, L.P.’s revenue for the quarter was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that Alliance Resource Partners, L.P. will post $2.89 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.50 per share. This is a positive change from Alliance Resource Partners, L.P.’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.93%. Alliance Resource Partners, L.P.’s dividend payout ratio (DPR) is presently 48.43%.

In other news, Director John P. Neafsey acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $19.55 per share, for a total transaction of $195,500.00. Following the completion of the transaction, the director now directly owns 51,604 shares in the company, valued at approximately $1,008,858.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 44.03% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ARLP. Alliancebernstein L.P. raised its position in shares of Alliance Resource Partners, L.P. by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,284 shares of the energy company’s stock worth $194,000 after buying an additional 576 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Alliance Resource Partners, L.P. by 1.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 9,284 shares of the energy company’s stock worth $201,000 after buying an additional 120 shares during the last quarter. Intrust Bank NA purchased a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth $221,000. Private Advisor Group LLC purchased a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth $222,000. Finally, QS Investors LLC raised its position in shares of Alliance Resource Partners, L.P. by 19.3% in the second quarter. QS Investors LLC now owns 13,112 shares of the energy company’s stock worth $248,000 after buying an additional 2,117 shares during the last quarter. Hedge funds and other institutional investors own 16.07% of the company’s stock.

Alliance Resource Partners, L.P. Company Profile

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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