Zacks Investment Research upgraded shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) from a hold rating to a strong-buy rating in a research note released on Monday morning. The brokerage currently has $22.00 price objective on the energy company’s stock.

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 equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Alliance Resource Partners, L.P. from a buy rating to a hold rating in a report on Friday, September 8th. BidaskClub upgraded shares of Alliance Resource Partners, L.P. from a strong sell rating to a sell rating in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $26.43.

Alliance Resource Partners, L.P. (ARLP) opened at 20.50 on Monday. The stock’s 50 day moving average price is $18.85 and its 200-day moving average price is $20.34. Alliance Resource Partners, L.P. has a 12 month low of $17.65 and a 12 month high of $26.65. The firm has a market capitalization of $2.68 billion, a P/E ratio of 4.95 and a beta of 0.70.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, July 31st. The energy company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.09. Alliance Resource Partners, L.P. had a net margin of 19.47% and a return on equity of 34.60%. The business had revenue of $398.72 million for the quarter, compared to analyst estimates of $447.68 million. During the same period last year, the business earned $0.82 EPS. The company’s revenue was down 9.2% on a year-over-year basis. Equities analysts forecast that Alliance Resource Partners, L.P. will post $2.89 earnings per share for the current year.

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In other Alliance Resource Partners, L.P. news, Director John P. Neafsey acquired 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $19.55 per share, for a total transaction of $195,500.00. Following the completion of the purchase, the director now owns 51,604 shares in the company, valued at approximately $1,008,858.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 44.03% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its stake in 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 valued at $194,000 after purchasing an additional 576 shares during the period. QS Investors LLC increased its stake in 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 valued at $248,000 after purchasing an additional 2,117 shares during the period. IFP Advisors Inc increased its stake in Alliance Resource Partners, L.P. by 2.8% in the second quarter. IFP Advisors Inc now owns 13,729 shares of the energy company’s stock valued at $259,000 after purchasing an additional 373 shares during the period. Mariner Wealth Advisors LLC increased its stake in Alliance Resource Partners, L.P. by 19.6% in the second quarter. Mariner Wealth Advisors LLC now owns 15,268 shares of the energy company’s stock valued at $289,000 after purchasing an additional 2,500 shares during the period. Finally, Pinnacle Financial Partners Inc. acquired a new position in Alliance Resource Partners, L.P. in the second quarter valued at $291,000. Institutional investors own 15.11% 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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