Alliance Resource Partners (NASDAQ:ARLP) Trading Down 4.4% - What's Next?

Key Points

• Alliance Resource Partners' shares decreased by 4.4% to $23.41, following a decline from a previous closing price of $24.48.
• Wall Street analysts have upgraded the stock from a "hold" to a "buy" rating, with a target price of $29.00 according to Benchmark.
• The company reported $0.55 EPS for the last quarter, falling short of analyst expectations of $0.61, and its revenue was also below forecasts at $547.46 million.

Alliance Resource Partners, L.P. (NASDAQ:ARLP - Get Free Report) shares fell 4.4% on Monday . The company traded as low as $23.45 and last traded at $23.41. 475,545 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 368,985 shares. The stock had previously closed at $24.48.

Wall Street Analyst Weigh In

ARLP has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Alliance Resource Partners from a "hold" rating to a "buy" rating in a research report on Sunday, May 4th. Benchmark restated a "buy" rating and set a $29.00 target price on shares of Alliance Resource Partners in a research note on Tuesday, April 29th.

Alliance Resource Partners Stock Down 2.5%

The company has a market cap of $3.07 billion, a price-to-earnings ratio of 13.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.96 and a quick ratio of 1.37. The firm has a 50-day moving average price of $26.32 and a 200 day moving average price of $26.35.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The energy company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06). Alliance Resource Partners had a net margin of 10.30% and a return on equity of 14.27%. The firm had revenue of $547.46 million during the quarter, compared to analyst estimates of $583.57 million. Sell-side analysts predict that Alliance Resource Partners, L.P. will post 2.72 EPS for the current year.

Alliance Resource Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.60 dividend. The ex-dividend date was Thursday, August 7th. This represents a $2.40 annualized dividend and a yield of 10.1%. Alliance Resource Partners's payout ratio is 132.60%.

Institutional Trading of Alliance Resource Partners

A number of institutional investors have recently bought and sold shares of the business. Progeny 3 Inc. boosted its stake in shares of Alliance Resource Partners by 0.9% in the second quarter. Progeny 3 Inc. now owns 3,062,981 shares of the energy company's stock valued at $80,066,000 after buying an additional 26,490 shares during the period. Jackson Hole Capital Partners LLC raised its holdings in Alliance Resource Partners by 7.3% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 2,098,619 shares of the energy company's stock valued at $57,250,000 after acquiring an additional 142,071 shares in the last quarter. Recurrent Investment Advisors LLC lifted its position in shares of Alliance Resource Partners by 0.5% during the 4th quarter. Recurrent Investment Advisors LLC now owns 1,151,070 shares of the energy company's stock valued at $30,262,000 after acquiring an additional 5,925 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Alliance Resource Partners during the 2nd quarter worth $17,847,000. Finally, Raymond James Financial Inc. increased its position in shares of Alliance Resource Partners by 0.3% in the first quarter. Raymond James Financial Inc. now owns 555,667 shares of the energy company's stock worth $15,159,000 after purchasing an additional 1,697 shares during the period. 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.

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