Alliance Resource Partners (NASDAQ:ARLP) Given New $27.00 Price Target at Benchmark

Alliance Resource Partners (NASDAQ:ARLP) had its target price lifted by Benchmark from $26.00 to $27.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Alliance Resource Partners Trading Up 0.8 %

Alliance Resource Partners stock opened at $26.37 on Tuesday. Alliance Resource Partners has a 12 month low of $18.32 and a 12 month high of $26.67. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.38 billion, a P/E ratio of 7.49 and a beta of 1.13. The company’s fifty day simple moving average is $24.52 and its 200-day simple moving average is $23.95.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.16). The firm had revenue of $613.57 million during the quarter, compared to analyst estimates of $646.17 million. Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, sell-side analysts forecast that Alliance Resource Partners will post 3.2 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.80 annualized dividend and a dividend yield of 10.62%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Continuum Advisory LLC acquired a new position in Alliance Resource Partners during the second quarter valued at approximately $27,000. Beacon Capital Management LLC grew its stake in Alliance Resource Partners by 135.8% in the 2nd quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock valued at $36,000 after buying an additional 842 shares during the last quarter. Cove Street Capital LLC acquired a new position in Alliance Resource Partners during the 2nd quarter worth $49,000. Mather Group LLC. bought a new stake in Alliance Resource Partners during the second quarter valued at about $51,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Alliance Resource Partners in the first quarter valued at about $54,000. 18.11% of the stock is 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.