Alliance Resource Partners (NASDAQ:ARLP) Sees Large Volume Increase Following Strong Earnings

Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 172,987 shares traded hands during trading, a decline of 60% from the previous session’s volume of 435,968 shares.The stock last traded at $22.10 and had previously closed at $21.15.

The energy company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.93 by $0.28. The firm had revenue of $651.70 million for the quarter, compared to analyst estimates of $625.32 million. Alliance Resource Partners had a return on equity of 34.90% and a net margin of 24.50%. During the same period in the prior year, the company earned $1.45 EPS.

Alliance Resource Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 12.48%. The ex-dividend date of this dividend is Tuesday, May 7th. Alliance Resource Partners’s dividend payout ratio is presently 58.21%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARLP. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Alliance Resource Partners in a report on Tuesday. StockNews.com upgraded Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Institutional Investors Weigh In On Alliance Resource Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Magnolia Group LLC lifted its holdings in Alliance Resource Partners by 6.0% in the 4th quarter. Magnolia Group LLC now owns 3,214,171 shares of the energy company’s stock worth $68,076,000 after buying an additional 180,720 shares during the period. Jackson Hole Capital Partners LLC lifted its holdings in Alliance Resource Partners by 1.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 1,949,324 shares of the energy company’s stock worth $41,287,000 after buying an additional 21,478 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Alliance Resource Partners by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 858,939 shares of the energy company’s stock worth $18,192,000 after buying an additional 7,870 shares during the period. Recurrent Investment Advisors LLC lifted its holdings in Alliance Resource Partners by 4.9% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 735,784 shares of the energy company’s stock worth $16,577,000 after buying an additional 34,500 shares during the period. Finally, ING Groep NV lifted its stake in shares of Alliance Resource Partners by 62.9% in the 4th quarter. ING Groep NV now owns 684,000 shares of the energy company’s stock valued at $14,487,000 after purchasing an additional 264,000 shares during the period. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Trading Up 1.0 %

The company has a market cap of $2.87 billion, a PE ratio of 4.66 and a beta of 1.14. The company has a current ratio of 2.27, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $20.13 and a 200 day moving average price of $20.92.

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.