Alliance Resource Partners (NASDAQ:ARLP) Sets New 52-Week High – Should You Buy?

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.99 and last traded at $28.89, with a volume of 28597 shares. The stock had previously closed at $28.60.

Wall Street Analysts Forecast Growth

ARLP has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, February 3rd. Wall Street Zen downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Zacks Research lowered Alliance Resource Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Finally, Weiss Ratings cut Alliance Resource Partners from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, March 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.50.

Alliance Resource Partners Stock Performance

The firm has a market capitalization of $3.71 billion, a P/E ratio of 12.01 and a beta of 0.30. The stock has a 50-day moving average of $26.00 and a 200 day moving average of $24.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.41 and a current ratio of 2.10.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, February 2nd. The energy company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. The firm had revenue of $535.51 million during the quarter, compared to the consensus estimate of $556.82 million. Alliance Resource Partners had a return on equity of 18.41% and a net margin of 14.18%. On average, research analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Friday, February 6th. Alliance Resource Partners’s payout ratio is currently 100.00%.

Institutional Investors Weigh In On Alliance Resource Partners

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Alliance Resource Partners by 7.0% in the 1st quarter. Royal Bank of Canada now owns 19,058 shares of the energy company’s stock valued at $519,000 after acquiring an additional 1,254 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Alliance Resource Partners by 0.7% during the second quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company’s stock worth $3,091,000 after purchasing an additional 855 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Alliance Resource Partners by 2.4% during the second quarter. J.W. Cole Advisors Inc. now owns 28,604 shares of the energy company’s stock valued at $748,000 after purchasing an additional 675 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in shares of Alliance Resource Partners by 13.1% during the second quarter. Virtus Investment Advisers LLC now owns 6,601 shares of the energy company’s stock valued at $173,000 after purchasing an additional 764 shares during the last quarter. Finally, Crescent Grove Advisors LLC increased its holdings in shares of Alliance Resource Partners by 30.4% in the second quarter. Crescent Grove Advisors LLC now owns 260,081 shares of the energy company’s stock valued at $6,799,000 after purchasing an additional 60,627 shares in the last quarter. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.