Alliance Resource Partners, L.P. Rating Reiterated by JPMorgan Chase & Co. (ARLP)
Alliance Resource Partners, L.P. (NASDAQ:ARLP)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Tuesday. They currently have a $50.00 target price on the stock, up from their previous target price of $47.50. JPMorgan Chase & Co.’s target price would indicate a potential downside of 2.50% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Alliance Resource Partners, L.P. in a research note on Tuesday. They now have a $56.00 price target on the stock, up previously from $52.00. Separately, analysts at Cowen and Company raised their price target on shares of Alliance Resource Partners, L.P. from $50.00 to $55.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks upgraded shares of Alliance Resource Partners, L.P. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $47.65 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.95.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) traded up 2.28% on Tuesday, hitting $51.23. 155,204 shares of the company’s stock traded hands. Alliance Resource Partners, L.P. has a 52-week low of $34.00 and a 52-week high of $51.16. The stock’s 50-day moving average is $46.03 and its 200-day moving average is $43.3. The company has a market cap of $3.794 billion and a P/E ratio of 13.35.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its earnings results on Monday, July 28th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.37. The company had revenue of $598.56 million for the quarter, compared to the consensus estimate of $574.31 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts predict that Alliance Resource Partners, L.P. will post $4.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Thursday, August 7th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a positive change from Alliance Resource Partners, L.P.’s previous quarterly dividend of $0.61.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coals to United States utilities and industrial users.
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