Alliance Resource Partners (NASDAQ:ARLP) Announces Earnings Results

Key Points

• Alliance Resource Partners reported earnings of $0.55 per share for the quarter, missing the consensus estimate of $0.61 by $0.06.
• Royal Bank of Canada increased its holdings in Alliance Resource Partners by 7.0%, bringing their ownership to 19,058 shares worth approximately $519,000.
• Analysts upgraded the company from a "hold" to a "buy" rating, with a price target of $29.00 set by Benchmark.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) released its quarterly earnings results on Monday. The energy company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06), Zacks reports. The business had revenue of $547.46 million for the quarter, compared to analyst estimates of $583.57 million. Alliance Resource Partners had a return on equity of 14.16% and a net margin of 10.30%.

Alliance Resource Partners Stock Performance

ARLP traded down $0.03 during trading on Thursday, hitting $26.38. The stock had a trading volume of 184,637 shares, compared to its average volume of 368,429. The company has a 50 day moving average price of $26.40 and a 200-day moving average price of $26.57. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 14.58 and a beta of 0.54. Alliance Resource Partners has a one year low of $22.18 and a one year high of $30.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.37.

Alliance Resource Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.40 annualized dividend and a yield of 9.10%. Alliance Resource Partners's dividend payout ratio (DPR) is presently 132.08%.

Institutional Trading of Alliance Resource Partners

A hedge fund recently raised its stake in Alliance Resource Partners stock. Royal Bank of Canada grew its stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 19,058 shares of the energy company's stock after acquiring an additional 1,254 shares during the quarter. Royal Bank of Canada's holdings in Alliance Resource Partners were worth $519,000 as of its most recent SEC filing. Institutional investors own 18.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ARLP shares. Benchmark restated a "buy" rating and issued a $29.00 price target on shares of Alliance Resource Partners in a research note on Tuesday, April 29th. Wall Street Zen upgraded Alliance Resource Partners from a "hold" rating to a "buy" rating in a research note on Sunday, May 4th.

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.