Alliance Resource Partners (NASDAQ:ARLP) Shares Down 3% Following Weak Earnings

Alliance Resource Partners, L.P. (NASDAQ:ARLP) 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

A number of analysts have recently commented on ARLP shares. Benchmark boosted their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

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.