Alliance Resource Partners (NASDAQ:ARLP) Raised to Buy at Wall Street Zen

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts also recently commented on ARLP. Alliance Global Partners initiated coverage on Alliance Resource Partners in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Resource Partners in a report on Wednesday, October 8th. Industrial Alliance Securities set a $30.00 price objective on Alliance Resource Partners in a report on Wednesday, September 24th. Finally, Benchmark reissued a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.50.

Alliance Resource Partners Stock Performance

Shares of ARLP opened at $24.47 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 13.02 and a beta of 0.51. The stock has a 50 day moving average of $23.98 and a 200 day moving average of $25.43. Alliance Resource Partners has a 12 month low of $22.20 and a 12 month high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, October 27th. The energy company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $571.40 million during the quarter, compared to the consensus estimate of $567.03 million. Alliance Resource Partners had a return on equity of 14.75% and a net margin of 10.88%. As a group, sell-side analysts forecast that Alliance Resource Partners will post 2.72 earnings per share for the current year.

Institutional Investors Weigh In On Alliance Resource Partners

Several hedge funds have recently added to or reduced their stakes in ARLP. Parvin Asset Management LLC bought a new stake in Alliance Resource Partners during the second quarter worth about $27,000. SVB Wealth LLC purchased a new position in shares of Alliance Resource Partners in the first quarter worth about $32,000. Wealth Preservation Advisors LLC purchased a new position in shares of Alliance Resource Partners in the first quarter worth about $36,000. MCF Advisors LLC increased its holdings in shares of Alliance Resource Partners by 37.7% in the second quarter. MCF Advisors LLC now owns 1,377 shares of the energy company’s stock worth $36,000 after buying an additional 377 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Alliance Resource Partners in the third quarter worth about $51,000. 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.