Alliance Resource Partners (ARLP) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a strong-buy rating in a research note published on Wednesday.

ARLP has been the subject of several other reports. Zacks Investment Research upgraded shares of Alliance Resource Partners from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Monday, January 28th. ValuEngine upgraded shares of Alliance Resource Partners from a sell rating to a hold rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Alliance Resource Partners presently has a consensus rating of Buy and a consensus price target of $21.00.

ARLP opened at $20.63 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. Alliance Resource Partners has a 52-week low of $15.55 and a 52-week high of $20.99. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 8.45 and a beta of 1.00.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, January 28th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.39). Alliance Resource Partners had a return on equity of 26.51% and a net margin of 18.30%. The business had revenue of $531.80 million for the quarter, compared to analysts’ expectations of $538.50 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Alliance Resource Partners’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Alliance Resource Partners will post 2.88 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chiron Investment Management LLC grew its stake in Alliance Resource Partners by 19.6% during the fourth quarter. Chiron Investment Management LLC now owns 9,784 shares of the energy company’s stock worth $170,000 after buying an additional 1,600 shares during the period. Abacus Planning Group Inc. acquired a new position in shares of Alliance Resource Partners during the fourth quarter worth $246,000. Creative Planning lifted its position in shares of Alliance Resource Partners by 7.3% during the fourth quarter. Creative Planning now owns 31,612 shares of the energy company’s stock worth $548,000 after purchasing an additional 2,151 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Alliance Resource Partners by 8.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 28,750 shares of the energy company’s stock worth $498,000 after purchasing an additional 2,184 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Alliance Resource Partners by 0.4% during the third quarter. FMR LLC now owns 839,201 shares of the energy company’s stock worth $17,120,000 after purchasing an additional 3,101 shares in the last quarter. Institutional investors own 26.49% of the company’s stock.

About Alliance Resource Partners

Alliance Resource Partners LP produces and markets coal to United States utilities and industrial users. It operates through the following segments: Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment is comprised of Webster County coal’s Dotiki mining complex, Gibson mining complex, which includes the Gibson north mine and the Gibson south project, Hopkins County coal’s Elk Creek mining complex, White County coal’s Pattiki mining complex, Warrior’s mining complex, River View’s mining complex, the Sebree property and certain properties of Alliance Resource Properties and ARP Sebree LLC.

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