Alliance Resource Partners (NASDAQ:ARLP) Sets New 52-Week High – Time to Buy?

Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $27.80 and last traded at $27.59, with a volume of 432709 shares trading hands. The stock had previously closed at $26.85.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ARLP shares. Benchmark raised their price objective on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Friday.

Alliance Resource Partners Stock Up 2.8 %

The stock’s fifty day moving average is $25.19 and its two-hundred day moving average is $24.37. The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.54 billion, a PE ratio of 7.73 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). The company had revenue of $613.57 million during the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. During the same period last year, the firm posted $1.18 earnings per share. As a group, analysts predict that Alliance Resource Partners, L.P. will post 3.2 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 10.14%. The ex-dividend date was Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Alliance Resource Partners

Institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC purchased a new stake in Alliance Resource Partners during the second quarter valued at about $27,000. Beacon Capital Management LLC lifted its holdings in Alliance Resource Partners by 135.8% during the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock valued at $36,000 after purchasing an additional 842 shares during the last quarter. Cove Street Capital LLC purchased a new stake in Alliance Resource Partners during the second quarter valued at about $49,000. Mather Group LLC. bought a new stake in shares of Alliance Resource Partners during the second quarter valued at about $51,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Alliance Resource Partners during the first quarter valued at about $54,000. 18.11% of the stock is owned by hedge funds and other institutional investors.

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.