Alliance Resource Partners, L.P. (NASDAQ:ARLP) Forecasted to Earn Q1 2024 Earnings of $0.97 Per Share

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Stock analysts at Noble Financial cut their Q1 2024 EPS estimates for shares of Alliance Resource Partners in a research note issued to investors on Thursday, April 11th. Noble Financial analyst M. Reichman now forecasts that the energy company will post earnings per share of $0.97 for the quarter, down from their prior forecast of $0.98. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $4.05 per share. Noble Financial also issued estimates for Alliance Resource Partners’ Q2 2024 earnings at $0.96 EPS, Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $0.99 EPS and FY2024 earnings at $3.90 EPS.

Separately, StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th.

Alliance Resource Partners Stock Performance

ARLP opened at $21.01 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 4.37 and a beta of 1.14. The company’s 50 day moving average is $19.84 and its 200 day moving average is $20.99. Alliance Resource Partners has a 12-month low of $17.05 and a 12-month high of $24.30.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, January 29th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.26). The business had revenue of $625.42 million during the quarter, compared to analysts’ expectations of $672.54 million. Alliance Resource Partners had a return on equity of 34.90% and a net margin of 24.50%. During the same period in the previous year, the business posted $1.63 EPS.

Alliance Resource Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 13.33%. The ex-dividend date was Tuesday, February 6th. Alliance Resource Partners’s payout ratio is 58.21%.

Institutional Investors Weigh In On Alliance Resource Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in Alliance Resource Partners by 5.2% during the 4th quarter. Morgan Stanley now owns 9,263,730 shares of the energy company’s stock worth $188,239,000 after acquiring an additional 458,382 shares during the period. Magnolia Group LLC raised its stake in Alliance Resource Partners by 6.0% during the 4th quarter. Magnolia Group LLC now owns 3,214,171 shares of the energy company’s stock worth $68,076,000 after acquiring an additional 180,720 shares during the period. Bank of America Corp DE raised its stake in Alliance Resource Partners by 6.4% during the 1st quarter. Bank of America Corp DE now owns 2,591,924 shares of the energy company’s stock worth $52,279,000 after acquiring an additional 155,138 shares during the period. Jackson Hole Capital Partners LLC raised its stake in Alliance Resource Partners by 1.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 1,949,324 shares of the energy company’s stock worth $41,287,000 after acquiring an additional 21,478 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Alliance Resource Partners by 8.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,053,154 shares of the energy company’s stock worth $16,250,000 after acquiring an additional 81,374 shares during the period. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.