Alliance Resource Partners (NASDAQ:ARLP) Trading Down 3% – Here’s What Happened

Alliance Resource Partners, L.P. (NASDAQ:ARLP) dropped 3% during mid-day trading on Monday . The stock traded as low as $24.48 and last traded at $24.86. Approximately 156,494 shares were traded during trading, a decline of 59% from the average daily volume of 379,073 shares. The stock had previously closed at $25.63.

Analysts Set New Price Targets

ARLP has been the topic of several recent research reports. Benchmark upped their target price on shares of Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Alliance Resource Partners Price Performance

The company has a market capitalization of $3.21 billion, a P/E ratio of 5.61 and a beta of 1.13. The firm’s fifty day moving average is $24.31 and its 200 day moving average is $23.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, July 29th. The energy company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.16). The firm had revenue of $593.35 million for the quarter, compared to the consensus estimate of $624.72 million. Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, analysts predict that Alliance Resource Partners, L.P. will post 3.56 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 11.16%. Alliance Resource Partners’s payout ratio is presently 61.27%.

Hedge Funds Weigh In On Alliance Resource Partners

A number of large investors have recently bought and sold shares of ARLP. Magnolia Group LLC increased its holdings in shares of Alliance Resource Partners by 7.1% in the 1st quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock valued at $69,050,000 after acquiring an additional 229,700 shares during the period. Progeny 3 Inc. grew its stake in Alliance Resource Partners by 2.8% in the second quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company’s stock valued at $68,669,000 after purchasing an additional 75,340 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Alliance Resource Partners in the first quarter worth about $23,567,000. Adams Asset Advisors LLC raised its holdings in Alliance Resource Partners by 1.6% in the second quarter. Adams Asset Advisors LLC now owns 315,967 shares of the energy company’s stock worth $7,729,000 after purchasing an additional 5,082 shares in the last quarter. Finally, Fairbanks Capital Management Inc. lifted its position in shares of Alliance Resource Partners by 5.8% during the second quarter. Fairbanks Capital Management Inc. now owns 306,993 shares of the energy company’s stock valued at $7,509,000 after buying an additional 16,844 shares during the last quarter. Institutional investors own 18.11% of the company’s stock.

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.