Alliance Resource Partners (NASDAQ:ARLP) Upgraded to Strong-Buy at StockNews.com

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Separately, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Alliance Resource Partners in a research note on Tuesday.

Alliance Resource Partners Stock Up 1.0 %

Shares of Alliance Resource Partners stock traded up $0.22 during trading hours on Tuesday, reaching $22.43. The company’s stock had a trading volume of 532,952 shares, compared to its average volume of 460,763. Alliance Resource Partners has a one year low of $17.05 and a one year high of $24.30. The company has a market capitalization of $2.87 billion, a P/E ratio of 4.66 and a beta of 1.14. The stock’s fifty day simple moving average is $20.13 and its two-hundred day simple moving average is $20.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.27.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, April 29th. The energy company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.28. Alliance Resource Partners had a net margin of 24.50% and a return on equity of 34.90%. The firm had revenue of $651.70 million for the quarter, compared to analyst estimates of $625.32 million. During the same period last year, the firm earned $1.45 earnings per share. On average, research analysts forecast that Alliance Resource Partners will post 4.05 earnings per share for the current year.

Institutional Investors Weigh In On Alliance Resource Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARLP. FinTrust Capital Advisors LLC bought a new stake in Alliance Resource Partners during the 4th quarter valued at $42,000. Chiron Investment Management LLC bought a new stake in Alliance Resource Partners during the 3rd quarter valued at $128,000. Tortoise Investment Management LLC bought a new stake in Alliance Resource Partners during the 4th quarter valued at $151,000. Advisory Services Network LLC bought a new stake in Alliance Resource Partners during the 4th quarter valued at $182,000. Finally, Counterpoint Mutual Funds LLC increased its position in Alliance Resource Partners by 128.5% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 9,943 shares of the energy company’s stock valued at $211,000 after purchasing an additional 5,592 shares during the period. 18.11% of the stock is currently owned by institutional investors.

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.