Alliance Resource Partners (NASDAQ:ARLP) Upgraded by Zacks Research to Strong-Buy Rating

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on ARLP. Wall Street Zen lowered shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings downgraded Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Alliance Resource Partners currently has a consensus rating of “Buy” and an average price target of $30.00.

Alliance Resource Partners Trading Up 0.2%

Shares of ARLP stock opened at $24.45 on Wednesday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 12.87 and a beta of 0.23. The stock has a 50-day moving average of $24.87 and a 200-day moving average of $25.40. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a 1-year low of $22.20 and a 1-year high of $29.45.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, April 27th. The energy company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The company had revenue of $516.02 million during the quarter, compared to analyst estimates of $518.24 million. On average, equities research analysts forecast that Alliance Resource Partners will post 2.52 earnings per share for the current year.

Institutional Investors Weigh In On Alliance Resource Partners

Several hedge funds and other institutional investors have recently bought and sold shares of ARLP. Morgan Stanley boosted its position in shares of Alliance Resource Partners by 95.4% during the 4th quarter. Morgan Stanley now owns 3,363,174 shares of the energy company’s stock worth $78,127,000 after purchasing an additional 1,641,741 shares in the last quarter. Energy Income Partners LLC increased its position in Alliance Resource Partners by 145.9% in the 1st quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company’s stock valued at $20,387,000 after buying an additional 437,486 shares in the last quarter. ING Groep NV increased its position in Alliance Resource Partners by 76.7% in the 4th quarter. ING Groep NV now owns 668,000 shares of the energy company’s stock valued at $15,518,000 after buying an additional 289,900 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Alliance Resource Partners by 1,636.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 268,637 shares of the energy company’s stock worth $6,792,000 after buying an additional 253,165 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Alliance Resource Partners during the 1st quarter worth approximately $6,830,000. 18.11% of the stock is owned by institutional investors.

About Alliance Resource Partners

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.