Zacks Investment Research Lowers Alliance Resource Partners (ARLP) to Hold
Zacks Investment Research downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
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. “
ARLP has been the topic of several other reports. ValuEngine upgraded Alliance Resource Partners from a hold rating to a buy rating in a report on Friday, December 1st. Stifel Nicolaus reduced their target price on Alliance Resource Partners from $22.00 to $21.00 and set a hold rating on the stock in a report on Wednesday, November 15th. BidaskClub upgraded Alliance Resource Partners from a sell rating to a hold rating in a report on Wednesday, December 27th. Finally, B. Riley reiterated a buy rating and issued a $30.00 target price on shares of Alliance Resource Partners in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Alliance Resource Partners has a consensus rating of Hold and an average price target of $26.25.
Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, January 29th. The energy company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.03). Alliance Resource Partners had a net margin of 16.90% and a return on equity of 26.79%. The company had revenue of $483.00 million during the quarter, compared to the consensus estimate of $478.15 million. During the same quarter in the previous year, the company earned $1.30 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. equities analysts predict that Alliance Resource Partners will post 2.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 11.46%. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, February 6th. Alliance Resource Partners’s dividend payout ratio is presently 68.23%.
Several institutional investors have recently bought and sold shares of ARLP. Alliancebernstein L.P. boosted its holdings in shares of Alliance Resource Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,284 shares of the energy company’s stock worth $194,000 after buying an additional 576 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Alliance Resource Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,754,786 shares of the energy company’s stock worth $33,954,000 after buying an additional 245,133 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Alliance Resource Partners by 2.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 197,964 shares of the energy company’s stock worth $3,831,000 after buying an additional 4,772 shares in the last quarter. ING Groep NV bought a new position in shares of Alliance Resource Partners during the 3rd quarter worth approximately $1,935,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Alliance Resource Partners by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 843,816 shares of the energy company’s stock worth $15,738,000 after buying an additional 94,379 shares in the last quarter. Hedge funds and other institutional investors own 14.36% of the company’s stock.
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About Alliance Resource Partners
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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