Trade Report: Today: Alliance Resource Partners, L.P. (ARLP) Price Target Raised to $28.00

Today: Alliance Resource Partners, L.P. (ARLP) Price Target Raised to $28.00

Alliance Resource Partners, L.P. (NASDAQ:ARLP) had its price objective increased by FBR & Co from $26.00 to $28.00 in a report issued on Wednesday morning. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. TheStreet upgraded shares of Alliance Resource Partners, L.P. from a hold rating to a buy rating in a research note on Friday, October 28th. Seaport Global Securities began coverage on shares of Alliance Resource Partners, L.P. in a research note on Monday, October 31st. They set a buy rating and a $29.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Alliance Resource Partners, L.P. from a hold rating to a buy rating and set a $25.00 price target on the stock in a research report on Tuesday, October 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Alliance Resource Partners, L.P. has a consensus rating of Buy and a consensus target price of $23.83.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) opened at 22.50 on Wednesday. The stock’s 50 day moving average is $0.00 and its 200-day moving average is $0.00. Alliance Resource Partners, L.P. has a 52 week low of $9.95 and a 52 week high of $26.65.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.18. The company had revenue of $552.10 million for the quarter, compared to the consensus estimate of $488.49 million. During the same quarter last year, the company earned $0.61 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Alliance Resource Partners, L.P. will post $2.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were given a $0.4375 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $1.75 annualized dividend and a yield of 7.78%.

A number of hedge funds have recently modified their holdings of ARLP. Acrospire Investment Management LLC increased its stake in shares of Alliance Resource Partners, L.P. by 19.0% in the second quarter. Acrospire Investment Management LLC now owns 6,810 shares of the company’s stock valued at $107,000 after buying an additional 1,088 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Alliance Resource Partners, L.P. by 8.0% in the second quarter. IFP Advisors Inc now owns 8,763 shares of the company’s stock valued at $138,000 after buying an additional 651 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Alliance Resource Partners, L.P. by 357.0% in the second quarter. Integrated Investment Consultants LLC now owns 9,140 shares of the company’s stock valued at $144,000 after buying an additional 7,140 shares in the last quarter. HL Financial Services LLC purchased a new stake in shares of Alliance Resource Partners, L.P. during the second quarter valued at $164,000. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Alliance Resource Partners, L.P. during the third quarter valued at $239,000.

About Alliance Resource Partners, L.P.

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