Benchmark Forecasts Strong Price Appreciation for Alliance Resource Partners (NASDAQ:ARLP) Stock

Alliance Resource Partners (NASDAQ:ARLP) had its price objective increased by investment analysts at Benchmark from $26.00 to $27.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Benchmark’s price target indicates a potential upside of 5.35% from the stock’s previous close.

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

Alliance Resource Partners Stock Performance

Alliance Resource Partners stock opened at $25.63 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24. Alliance Resource Partners has a twelve month low of $18.32 and a twelve month high of $26.21. The company’s 50-day moving average price is $24.43 and its 200-day moving average price is $23.90. The company has a market cap of $3.28 billion, a PE ratio of 7.28 and a beta of 1.13.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.16). The firm had revenue of $613.57 million for the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. During the same period in the previous year, the firm earned $1.18 earnings per share. On average, equities research analysts forecast that Alliance Resource Partners will post 3.56 EPS for the current fiscal year.

Institutional Trading of Alliance Resource Partners

Several institutional investors and hedge funds have recently modified their holdings of ARLP. Prevail Innovative Wealth Advisors LLC bought a new stake in Alliance Resource Partners during the 1st quarter valued at $3,566,000. Creative Planning increased its position in Alliance Resource Partners by 89.8% during the 2nd quarter. Creative Planning now owns 72,099 shares of the energy company’s stock valued at $1,764,000 after purchasing an additional 34,106 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Alliance Resource Partners by 2,400.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock valued at $1,692,000 after purchasing an additional 64,968 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Alliance Resource Partners by 36.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 53,357 shares of the energy company’s stock worth $1,070,000 after purchasing an additional 14,255 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Alliance Resource Partners by 18.4% during the first quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company’s stock valued at $403,000 after purchasing an additional 3,131 shares in the last quarter. Institutional investors own 18.11% of the company’s stock.

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.