Alliance Resource Partners (NASDAQ:ARLP) raised to buy Zacks Investment Research

Alliance Resource Partners (NASDAQ:ARLP – Get Valuation) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Tuesday to investors, Zacks.com reports. The brokerage currently has a price target of $22.00 on shares of the energy company. Zacks Investment Research’s price target indicates a potential upside of 10.83% from the current stock price.

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

ARLP has been the subject of several other research reports. StockNews.com upgraded Alliance Resource Partners from a “buy” rating to a “strong buy” rating in a Tuesday, May 10 research note. Noble Financial launched coverage on Alliance Resource Partners in a Wednesday, March 30 report. They issued an “outperform” rating and a target price of $22.00 on the stock.

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ARLP shares traded down $0.02 in midday trading on Tuesday, hitting $19.85. The company had a trading volume of 1,164,052 shares, compared to an average volume of 689,452. The stock’s 50-day moving average price is $17.33 and its 200-day moving average price is 14 $.39. Alliance Resource Partners has a 52-week low of $5.96 and a 52-week high of $20.83. The company has a market capitalization of $2.52 billion, a P/E ratio of 13.60 and a beta of 1.43. The company has a debt ratio of 0.34, a current ratio of 2.00 and a quick ratio of 1.53.

Alliance Resource Partners (NASDAQ:ARLP – Get Rating) last released its quarterly results on Monday, May 2. The energy company reported EPS of $0.28 for the quarter, missing the consensus estimate of $0.60 per ($0.32). Alliance Resource Partners posted a net margin of 11.10% and a return on equity of 15.92%. The company posted revenue of $460.86 million for the quarter, compared to $483.56 million expected by analysts. During the same period a year earlier, the company posted earnings per share of $0.19. On average, equity research analysts expect Alliance Resource Partners to post earnings per share of 3.1 for the current year.

Several institutional investors and hedge funds have recently increased or reduced their stake in ARLP. JNBA Financial Advisors acquired a new stake in Alliance Resource Partners in Q4 worth approximately $32,000. McIlrath & Eck LLC increased its position in Alliance Resource Partners by 1,764.7% in the first quarter. McIlrath & Eck LLC now owns 3,170 shares of the energy company valued at $49,000 after buying 3,000 more shares last quarter. Wells Fargo & Company MN increased its equity stake in Alliance Resource Partners by 85.3% during the second quarter. Wells Fargo & Company MN now owns 6,921 shares of the energy company worth $50,000 after buying 3,185 additional shares during the period. Advisor Group Holdings Inc. increased its stake in Alliance Resource Partners by 145.6% in the third quarter. Advisor Group Holdings Inc. now owns 8,397 shares of the energy company valued at $91,000 after buying 4,978 additional shares during the period. Finally, Jane Street Group LLC acquired a new position in Alliance Resource Partners in the third quarter worth $121,000. Institutional investors and hedge funds hold 22.79% of the company’s shares.

About Alliance Resource Partners (Get a rating)

Alliance Resource Partners, LP, a diversified natural resources company, produces and markets coal primarily to utility 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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