Alliance Resource Partners (NASDAQ:ARLP) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Alliance Resource Partners, L.P. (NASDAQ:ARLP) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $25.65 and traded as low as $25.07. Alliance Resource Partners shares last traded at $25.18, with a volume of 799,469 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Alliance Resource Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Alliance Resource Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Finally, Zacks Research lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Alliance Resource Partners Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.32 and a current ratio of 1.75. The company has a 50-day moving average price of $25.67 and a 200-day moving average price of $25.65. The firm has a market capitalization of $3.14 billion, a P/E ratio of 10.16 and a beta of 0.30.

Alliance Resource Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 9.8%. The ex-dividend date is Friday, November 6th. Alliance Resource Partners’s payout ratio is presently 100.00%.

Institutional Trading of Alliance Resource Partners

A number of hedge funds have recently modified their holdings of the company. Lido Advisors LLC grew its position in shares of Alliance Resource Partners by 93.6% in the 3rd quarter. Lido Advisors LLC now owns 2,123,618 shares of the energy company’s stock valued at $51,583,000 after purchasing an additional 1,026,862 shares during the period. BCS Wealth Management raised its holdings in Alliance Resource Partners by 2.1% during the 3rd quarter. BCS Wealth Management now owns 27,761 shares of the energy company’s stock worth $674,000 after buying an additional 568 shares during the period. StoneX Group Inc. acquired a new position in shares of Alliance Resource Partners in the third quarter valued at approximately $209,000. Arrow Investment Advisors LLC raised its holdings in shares of Alliance Resource Partners by 17.6% during the third quarter. Arrow Investment Advisors LLC now owns 9,912 shares of the energy company’s stock worth $241,000 after acquiring an additional 1,481 shares during the period. Finally, Pekin Hardy Strauss Inc. raised its holdings in shares of Alliance Resource Partners by 1.3% during the third quarter. Pekin Hardy Strauss Inc. now owns 77,859 shares of the energy company’s stock worth $1,891,000 after acquiring an additional 1,010 shares during the period. 18.11% of the stock is currently owned by institutional investors and hedge funds.

About Alliance Resource Partners

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a diversified natural resource company headquartered in Tulsa, Oklahoma. The company’s primary business is the production and marketing of coal, which it supplies to electric utilities and industrial customers in the United States.

Alliance Resource Partners operates coal mines in the Illinois Basin and Appalachia, producing primarily thermal coal used for electricity generation. Its operations include underground and surface mining, coal processing, transportation and marketing activities.