Alliance Resource Partners, L.P. (ARLP) PT Raised to $22.00 at FBR & Co

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Alliance Resource Partners, L.P. (NASDAQ:ARLP) had its price target hoisted by analysts at FBR & Co from $19.00 to $22.00 in a report released on Monday. The brokerage presently has an “outperform” rating on the stock. FBR & Co’s price target suggests a potential upside of 3.29% from the company’s previous close.
Separately, Zacks Investment Research raised shares of Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, May 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Alliance Resource Partners, L.P. presently has a consensus rating of “Buy” and a consensus target price of $22.50.
Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) traded down 1.62% during midday trading on Monday, reaching $21.30. 247,732 shares of the company were exchanged. The company has a 50 day moving average price of $19.86 and a 200-day moving average price of $15.66. Alliance Resource Partners, L.P. has a 12-month low of $9.95 and a 12-month high of $25.36. The stock has a market capitalization of $1.58 billion, a P/E ratio of 13.27 and a beta of 0.80.

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Alliance Resource Partners, L.P. (NASDAQ:ARLP) last issued its earnings results on Tuesday, July 26th. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.27. The business earned $439.20 million during the quarter, compared to analysts’ expectations of $444.13 million. During the same period last year, the firm posted $0.76 EPS. Alliance Resource Partners, L.P.’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, analysts forecast that Alliance Resource Partners, L.P. will post $2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 8.22%. The ex-dividend date of this dividend was Wednesday, August 3rd.
In related news, VP Robert J. Fouch sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $19.34, for a total transaction of $328,780.00. Following the completion of the transaction, the vice president now directly owns 33,242 shares in the company, valued at approximately $642,900.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Magnolia Group LLC bought a new position in shares of Alliance Resource Partners, L.P. during the fourth quarter worth about $22,519,000. Energy Income Partners LLC increased its position in shares of Alliance Resource Partners, L.P. by 13.2% in the first quarter. Energy Income Partners LLC now owns 5,208,568 shares of the company’s stock worth $60,680,000 after buying an additional 605,331 shares during the period. Morgan Stanley increased its position in shares of Alliance Resource Partners, L.P. by 75.1% in the fourth quarter. Morgan Stanley now owns 878,997 shares of the company’s stock worth $11,858,000 after buying an additional 377,083 shares during the period. ING Groep NV increased its position in shares of Alliance Resource Partners, L.P. by 132.6% in the first quarter. ING Groep NV now owns 500,150 shares of the company’s stock worth $5,817,000 after buying an additional 285,150 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Alliance Resource Partners, L.P. by 123.1% in the second quarter. Acadian Asset Management LLC now owns 442,706 shares of the company’s stock worth $6,976,000 after buying an additional 244,309 shares during the period.
About Alliance Resource Partners, L.P.
Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.

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