Alliance Resource Partners (NASDAQ:ARLP) Sets New 52-Week High – Time to Buy?

Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares hit a new 52-week high on Tuesday . The stock traded as high as $27.80 and last traded at $27.59, with a volume of 432709 shares changing hands. The stock had previously closed at $26.85.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com cut Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday. Benchmark upped their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Alliance Resource Partners Stock Performance

The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $25.19 and its two-hundred day moving average is $24.37. The company has a market capitalization of $3.54 billion, a P/E ratio of 7.73 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data 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 company had revenue of $613.57 million during the quarter, compared to the consensus estimate of $646.17 million. Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. During the same quarter last year, the company posted $1.18 earnings per share. Equities analysts anticipate that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 10.14%. The ex-dividend date was Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Atlanta Consulting Group Advisors LLC purchased a new stake in Alliance Resource Partners in the third quarter worth approximately $29,144,000. Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners in the second quarter worth approximately $6,595,000. Progeny 3 Inc. boosted its stake in Alliance Resource Partners by 5.1% in the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock worth $54,778,000 after buying an additional 132,630 shares in the last quarter. Recurrent Investment Advisors LLC boosted its stake in Alliance Resource Partners by 6.2% in the third quarter. Recurrent Investment Advisors LLC now owns 1,145,145 shares of the energy company’s stock worth $28,629,000 after buying an additional 66,761 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in Alliance Resource Partners by 2,400.0% in the third quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock worth $1,692,000 after buying an additional 64,968 shares in the last quarter. 18.11% of the stock is currently owned by institutional investors.

Alliance Resource Partners Company Profile

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.