Alliance Resource Partners, L.P. (NASDAQ:ARLP) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,080,400 shares, a drop of 24.9% from the July 31st total of 2,771,800 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 465,600 shares, the days-to-cover ratio is presently 4.5 days.
ARLP has been the subject of several recent analyst reports. BidaskClub raised Alliance Resource Partners from a “sell” rating to a “hold” rating in a report on Friday, September 6th. B. Riley downgraded Alliance Resource Partners from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, July 17th. Zacks Investment Research downgraded Alliance Resource Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Seaport Global Securities downgraded Alliance Resource Partners from a “buy” rating to a “neutral” rating in a report on Monday, July 29th. Finally, Clarkson Capital initiated coverage on Alliance Resource Partners in a report on Tuesday, July 9th. They issued a “buy” rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.75.
In other Alliance Resource Partners news, Director Wilson M. Torrence purchased 5,600 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $15.42 per share, with a total value of $86,352.00. Following the completion of the acquisition, the director now owns 39,096 shares in the company, valued at $602,860.32. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert J. Druten sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $17.13, for a total value of $205,560.00. Following the completion of the sale, the director now directly owns 25,628 shares of the company’s stock, valued at approximately $439,007.64. The disclosure for this sale can be found here. 44.03% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Brand Asset Management Group Inc. purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $35,000. Valeo Financial Advisors LLC raised its stake in shares of Alliance Resource Partners by 185.7% in the second quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock worth $60,000 after purchasing an additional 2,291 shares during the last quarter. NEXT Financial Group Inc purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $60,000. Arlington Partners LLC purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $114,000. Finally, Bessemer Group Inc. purchased a new position in shares of Alliance Resource Partners in the second quarter worth about $192,000. Hedge funds and other institutional investors own 23.16% of the company’s stock.
Shares of NASDAQ:ARLP opened at $15.86 on Friday. Alliance Resource Partners has a 52-week low of $14.41 and a 52-week high of $20.99. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 6.16 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $17.99 and a 200-day moving average price of $21.19.
Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Friday, July 26th. The energy company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.21). Alliance Resource Partners had a return on equity of 27.63% and a net margin of 22.14%. The firm had revenue of $517.10 million during the quarter, compared to analysts’ expectations of $531.10 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Alliance Resource Partners will post 2.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 13.62%. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, August 6th. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 88.52%.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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