FY2024 EPS Estimates for Alliance Resource Partners, L.P. Increased by Noble Financial (NASDAQ:ARLP)

Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) - Analysts at Noble Financial raised their FY2024 earnings estimates for Alliance Resource Partners in a research report issued on Wednesday, May 1st. Noble Financial analyst M. Reichman now expects that the energy company will post earnings per share of $4.14 for the year, up from their prior forecast of $3.90. The consensus estimate for Alliance Resource Partners' current full-year earnings is $3.98 per share.

A number of other equities analysts have also issued reports on the stock. StockNews.com raised shares of Alliance Resource Partners from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Alliance Resource Partners in a research report on Tuesday.

Alliance Resource Partners Stock Performance

Shares of NASDAQ ARLP traded up $0.38 during trading hours on Friday, hitting $23.25. 715,231 shares of the company's stock were exchanged, compared to its average volume of 468,475. The company's 50-day moving average price is $20.34 and its 200-day moving average price is $20.94. Alliance Resource Partners has a 1-year low of $17.05 and a 1-year high of $24.30. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 1.71.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last announced its earnings results on Monday, April 29th. The energy company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.93 by $0.28. Alliance Resource Partners had a net margin of 23.36% and a return on equity of 32.06%. The firm had revenue of $651.70 million for the quarter, compared to the consensus estimate of $625.32 million. During the same quarter last year, the firm posted $1.45 EPS.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $2.80 dividend on an annualized basis and a yield of 12.04%. Alliance Resource Partners's dividend payout ratio is currently 61.27%.

Institutional Investors Weigh In On Alliance Resource Partners

Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Alliance Resource Partners by 23.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 348,187 shares of the energy company's stock worth $7,375,000 after acquiring an additional 65,611 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Alliance Resource Partners during the third quarter worth $1,674,000. Crescent Grove Advisors LLC lifted its stake in shares of Alliance Resource Partners by 87.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 169,498 shares of the energy company's stock valued at $3,590,000 after acquiring an additional 79,155 shares during the period. Alps Advisors Inc. bought a new position in Alliance Resource Partners in the third quarter valued at about $383,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Alliance Resource Partners in the 3rd quarter valued at about $2,044,000. 18.11% of the stock is currently owned by institutional investors.

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.