ValuEngine upgraded shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other analysts have also recently issued reports on ARLP. BidaskClub raised Alliance Resource Partners, L.P. from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered Alliance Resource Partners, L.P. from a hold rating to a sell rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $27.32.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) opened at 18.80 on Monday. 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 earnings results on Monday, July 31st. The energy company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The company had revenue of $398.72 million during the quarter, compared to analysts’ expectations of $447.68 million. Alliance Resource Partners, L.P. had a return on equity of 34.60% and a net margin of 19.47%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. Analysts anticipate that Alliance Resource Partners, L.P. will post $2.89 earnings per share for the current fiscal year.

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In related news, Director John P. Neafsey purchased 10,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were bought at an average price of $19.55 per share, for a total transaction of $195,500.00. Following the acquisition, the director now directly owns 51,604 shares in the company, valued at $1,008,858.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 44.03% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in shares of Alliance Resource Partners, L.P. by 27.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,600,029 shares of the energy company’s stock valued at $30,239,000 after acquiring an additional 341,842 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alliance Resource Partners, L.P. by 959.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,509,653 shares of the energy company’s stock valued at $28,532,000 after acquiring an additional 1,367,177 shares during the last quarter. Magnolia Group LLC increased its holdings in shares of Alliance Resource Partners, L.P. by 1.2% in the 2nd quarter. Magnolia Group LLC now owns 1,092,456 shares of the energy company’s stock valued at $20,647,000 after acquiring an additional 13,378 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alliance Resource Partners, L.P. by 26.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 967,641 shares of the energy company’s stock valued at $18,289,000 after acquiring an additional 201,213 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alliance Resource Partners, L.P. by 16.3% in the 1st quarter. JPMorgan Chase & Co. now owns 806,468 shares of the energy company’s stock valued at $17,460,000 after acquiring an additional 113,126 shares during the last quarter. Institutional investors own 15.11% of the company’s stock.

About Alliance Resource Partners, L.P.

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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