Alliance Resource Partners (NASDAQ:ARLP) Given Buy Rating at Benchmark

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Benchmark in a report issued on Tuesday,Benzinga reports. They currently have a $29.00 target price on the energy company's stock. Benchmark's price target points to a potential upside of 6.77% from the company's previous close.

Separately, StockNews.com downgraded shares of Alliance Resource Partners from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th.

Alliance Resource Partners Trading Up 2.9 %

Shares of NASDAQ:ARLP traded up $0.76 during trading on Tuesday, reaching $27.16. 290,425 shares of the company were exchanged, compared to its average volume of 363,611. Alliance Resource Partners has a 12-month low of $21.84 and a 12-month high of $30.56. The firm has a market capitalization of $3.49 billion, a PE ratio of 9.84 and a beta of 0.62. The business's fifty day simple moving average is $26.21 and its 200-day simple moving average is $26.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.36 and a quick ratio of 1.69.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. The business had revenue of $540.47 million during the quarter, compared to analysts' expectations of $556.31 million. On average, research analysts anticipate that Alliance Resource Partners will post 2.72 EPS for the current year.

Insider Activity at Alliance Resource Partners

In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.13, for a total value of $1,256,500.00. Following the completion of the transaction, the senior vice president now owns 93,850 shares of the company's stock, valued at approximately $2,358,450.50. This trade represents a 34.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alliance Resource Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in shares of Alliance Resource Partners by 1.2% in the third quarter. Tidal Investments LLC now owns 34,283 shares of the energy company's stock worth $857,000 after purchasing an additional 391 shares during the last quarter. AlphaCore Capital LLC lifted its stake in Alliance Resource Partners by 2.6% during the 4th quarter. AlphaCore Capital LLC now owns 17,647 shares of the energy company's stock valued at $464,000 after acquiring an additional 444 shares during the period. Cadent Capital Advisors LLC boosted its holdings in shares of Alliance Resource Partners by 1.9% in the 4th quarter. Cadent Capital Advisors LLC now owns 23,816 shares of the energy company's stock valued at $626,000 after acquiring an additional 453 shares during the last quarter. BCS Wealth Management increased its stake in shares of Alliance Resource Partners by 2.4% in the fourth quarter. BCS Wealth Management now owns 19,971 shares of the energy company's stock worth $525,000 after acquiring an additional 476 shares during the period. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Alliance Resource Partners by 7.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 7,278 shares of the energy company's stock worth $191,000 after purchasing an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 18.11% of the company's stock.

About Alliance Resource Partners

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.