Alliance Resource Partners, L.P. (NASDAQ:ARLP – Get Free Report) was down 3% during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $24.48 and last traded at $24.86. Approximately 156,494 shares traded hands during trading, a decline of 59% from the average daily volume of 379,073 shares. The stock had previously closed at $25.63.
The energy company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.16). Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. The business had revenue of $613.57 million for the quarter, compared to the consensus estimate of $646.17 million. During the same quarter last year, the firm earned $1.18 EPS.
Alliance Resource Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.80 annualized dividend and a yield of 10.93%. Alliance Resource Partners’s dividend payout ratio is currently 79.55%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on ARLP
Institutional Trading of Alliance Resource Partners
Hedge funds and other institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new position in shares of Alliance Resource Partners during the 2nd quarter worth approximately $27,000. Beacon Capital Management LLC lifted its position 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 worth $36,000 after acquiring an additional 842 shares during the last quarter. Cove Street Capital LLC bought a new stake in shares of Alliance Resource Partners during the second quarter worth approximately $49,000. Mather Group LLC. bought a new position in shares of Alliance Resource Partners during the second quarter worth approximately $51,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Alliance Resource Partners during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 18.11% of the company’s stock.
Alliance Resource Partners Price Performance
The company has a current ratio of 2.53, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $24.39 and a 200-day moving average of $23.89. The firm has a market capitalization of $3.28 billion, a P/E ratio of 7.28 and a beta of 1.13.
About Alliance Resource Partners
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.
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