Alliance Resource Partners (NASDAQ:ARLP) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Alliance Resource Partners shares rose above their 200-day moving average, reaching $26.55 and last trading at $26.54 versus the $25.76 average.
• Analyst sentiment is generally favorable, with three Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $30 average price target.
• The company paid a quarterly dividend of $0.60, equivalent to $2.40 annually and a 9.0% yield, although its payout ratio remains elevated at 117.07%.

Alliance Resource Partners, L.P. (NASDAQ:ARLP - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.76 and traded as high as $26.55. Alliance Resource Partners shares last traded at $26.54, with a volume of 125,108 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARLP. Weiss Ratings upgraded Alliance Resource Partners from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Zacks Research downgraded Alliance Resource Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded Alliance Resource Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.00.

Alliance Resource Partners Trading Up 0.4%

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32. The business's 50-day moving average price is $25.17 and its two-hundred day moving average price is $25.76. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 12.95 and a beta of 0.21.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%.The company had revenue of $551.56 million for the quarter, compared to analyst estimates of $554.30 million. Research analysts predict that Alliance Resource Partners, L.P. will post 2.65 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $0.60 dividend. The ex-dividend date was Friday, August 7th. This represents a $2.40 annualized dividend and a dividend yield of 9.0%. Alliance Resource Partners's payout ratio is presently 117.07%.

Insider Buying and Selling

In other Alliance Resource Partners news, Director Ronna R. Mcdaniel bought 3,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $26.11 per share, for a total transaction of $78,330.00. Following the completion of the purchase, the director directly owned 3,000 shares of the company's stock, valued at approximately $78,330. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 16.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARLP. Continuum Advisory LLC bought a new position in Alliance Resource Partners in the 2nd quarter valued at approximately $58,000. Pin Oak Investment Advisors Inc. acquired a new position in Alliance Resource Partners in the second quarter valued at $30,000. Pinnacle Holdings LLC acquired a new position in shares of Alliance Resource Partners in the 2nd quarter valued at about $3,074,000. NewEdge Advisors LLC boosted its holdings in shares of Alliance Resource Partners by 734.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,302 shares of the energy company's stock worth $64,000 after buying an additional 2,026 shares in the last quarter. Finally, Dayah Capital LLC bought a new position in Alliance Resource Partners during the first quarter worth $1,825,000. Institutional investors own 18.11% of the company's stock.

About Alliance Resource Partners

Alliance Resource Partners, L.P. NASDAQ: ARLP is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance's integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.

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