Noble Financial Brokers Lift Earnings Estimates for Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Alliance Resource Partners, L.P. (NASDAQ:ARLP) – Stock analysts at Noble Financial upped their FY2024 earnings estimates for shares of Alliance Resource Partners in a research report issued on Wednesday, May 1st. Noble Financial analyst M. Reichman now anticipates that the energy company will earn $4.14 per share for the year, up from their previous forecast of $3.90. The consensus estimate for Alliance Resource Partners’ current full-year earnings is $4.10 per share.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, April 29th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.28. Alliance Resource Partners had a net margin of 23.36% and a return on equity of 32.06%. The company had revenue of $651.70 million during the quarter, compared to analyst estimates of $625.32 million. During the same period in the previous year, the business posted $1.45 earnings per share.

Other equities analysts also recently issued reports about the company. StockNews.com raised Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday, April 30th.

Alliance Resource Partners Trading Up 1.7 %

Shares of ARLP stock opened at $23.25 on Friday. Alliance Resource Partners has a 1 year low of $17.05 and a 1 year high of $24.30. The firm has a fifty day moving average price of $20.42 and a 200-day moving average price of $20.94. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 5.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 1.71.

Alliance Resource Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.04%. The ex-dividend date is Tuesday, May 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is 61.27%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new position in shares of Alliance Resource Partners in the fourth quarter valued at about $42,000. Chiron Investment Management LLC bought a new stake in Alliance Resource Partners during the 3rd quarter valued at approximately $128,000. Tortoise Investment Management LLC purchased a new position in Alliance Resource Partners in the 4th quarter worth approximately $151,000. Advisory Services Network LLC bought a new position in Alliance Resource Partners in the 4th quarter worth approximately $182,000. Finally, Counterpoint Mutual Funds LLC grew its holdings in Alliance Resource Partners by 128.5% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 9,943 shares of the energy company’s stock valued at $211,000 after buying an additional 5,592 shares in 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.