Zacks Investment Research Downgrades Alliance Resource Partners (NASDAQ:ARLP) to Hold

Alliance Resource Partners (NASDAQ:ARLPGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

A number of other equities analysts also recently weighed in on ARLP. Noble Financial started coverage on Alliance Resource Partners in a research report on Wednesday, March 30th. They set an “outperform” rating and a $22.00 price target on the stock. StockNews.com raised Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 10th.

ARLP stock traded down $0.39 during midday trading on Monday, hitting $20.53. 470,653 shares of the company’s stock were exchanged, compared to its average volume of 682,834. The stock’s fifty day moving average price is $17.75 and its 200-day moving average price is $14.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 2.00. The company has a market cap of $2.61 billion, a PE ratio of 14.06 and a beta of 1.43. Alliance Resource Partners has a one year low of $6.20 and a one year high of $21.05.

Alliance Resource Partners (NASDAQ:ARLPGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The energy company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.32). Alliance Resource Partners had a net margin of 11.10% and a return on equity of 15.92%. The firm had revenue of $460.86 million during the quarter, compared to the consensus estimate of $483.56 million. During the same quarter last year, the firm earned $0.19 earnings per share. On average, analysts expect that Alliance Resource Partners will post 3.1 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARLP. JPMorgan Chase & Co. lifted its stake in shares of Alliance Resource Partners by 36.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,613,870 shares of the energy company’s stock valued at $40,332,000 after acquiring an additional 695,463 shares during the last quarter. Jackson Hole Capital Partners LLC lifted its stake in shares of Alliance Resource Partners by 0.6% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 1,793,713 shares of the energy company’s stock valued at $27,677,000 after acquiring an additional 10,585 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Alliance Resource Partners by 36.3% in the 1st quarter. Bank of Montreal Can now owns 1,201,600 shares of the energy company’s stock valued at $18,589,000 after acquiring an additional 320,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Alliance Resource Partners by 8.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,053,154 shares of the energy company’s stock valued at $16,250,000 after acquiring an additional 81,374 shares during the last quarter. Finally, Miller Value Partners LLC lifted its stake in shares of Alliance Resource Partners by 84.4% in the 4th quarter. Miller Value Partners LLC now owns 600,700 shares of the energy company’s stock valued at $7,593,000 after acquiring an additional 275,000 shares during the last quarter. Hedge funds and other institutional investors own 22.79% of the company’s stock.

Alliance Resource Partners Company Profile (Get Rating)

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.

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