Alliance Resource Partners (NASDAQ:ARLP) Rating Increased to Strong-Buy at Wall Street Zen

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Other research analysts have also issued reports about the stock. Alliance Global Partners assumed coverage on shares of Alliance Resource Partners in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Industrial Alliance Securities set a $30.00 target price on Alliance Resource Partners in a research report on Wednesday, September 24th. Benchmark reaffirmed a “buy” rating on shares of Alliance Resource Partners in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alliance Resource Partners in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Alliance Resource Partners Price Performance

Shares of NASDAQ ARLP opened at $24.49 on Monday. The firm has a market cap of $3.14 billion, a PE ratio of 13.02 and a beta of 0.55. The firm has a fifty day moving average of $24.52 and a 200 day moving average of $25.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 1.96. Alliance Resource Partners has a one year low of $22.20 and a one year high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, October 27th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. Alliance Resource Partners had a net margin of 10.88% and a return on equity of 14.75%. The business had revenue of $571.40 million for the quarter, compared to the consensus estimate of $567.03 million. As a group, research analysts predict that Alliance Resource Partners will post 2.72 EPS for the current fiscal year.

Institutional Trading of Alliance Resource Partners

Several large investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new position in shares of Alliance Resource Partners during the 2nd quarter valued at about $27,000. SVB Wealth LLC acquired a new stake in Alliance Resource Partners during the first quarter worth about $32,000. Wealth Preservation Advisors LLC acquired a new stake in Alliance Resource Partners during the first quarter worth about $36,000. MCF Advisors LLC raised its stake in Alliance Resource Partners by 37.7% during the second quarter. MCF Advisors LLC now owns 1,377 shares of the energy company’s stock worth $36,000 after purchasing an additional 377 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Alliance Resource Partners by 135.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company’s stock valued at $39,000 after purchasing an additional 875 shares during the last quarter. 18.11% of the stock is currently owned by hedge funds and other 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.