Alliance Resource Partners (NASDAQ:ARLP) Stock Rating Lowered by StockNews.com

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, Benchmark upped their target price on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th.

Alliance Resource Partners Stock Down 1.0 %

NASDAQ:ARLP opened at $26.79 on Friday. Alliance Resource Partners has a 52 week low of $18.32 and a 52 week high of $27.80. The stock’s fifty day moving average is $25.11 and its two-hundred day moving average is $24.33. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.61 and a beta of 1.14. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share (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 analyst estimates 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 period in the previous year, the company posted $1.18 EPS. Research analysts anticipate that Alliance Resource Partners will post 3.2 EPS for the current year.

Institutional Trading of Alliance Resource Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of ARLP. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Alliance Resource Partners in the 1st quarter valued at about $23,567,000. Oppenheimer & Co. Inc. purchased a new position in Alliance Resource Partners in the second quarter valued at approximately $6,595,000. Progeny 3 Inc. increased 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 valued at $54,778,000 after purchasing an additional 132,630 shares during the last quarter. Recurrent Investment Advisors LLC raised its holdings in Alliance Resource Partners by 6.2% during the third quarter. Recurrent Investment Advisors LLC now owns 1,145,145 shares of the energy company’s stock worth $28,629,000 after purchasing an additional 66,761 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Alliance Resource Partners by 2,400.0% during the 3rd 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 during the last quarter. 18.11% of the stock is currently owned by institutional investors and hedge funds.

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.