Zacks Investment Research downgraded shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) from a buy rating to a sell rating in a research report sent to investors on Friday.

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

ARLP has been the subject of several other research reports. ValuEngine lowered Alliance Resource Partners, L.P. from a buy rating to a hold rating in a report on Friday, September 8th. BidaskClub lowered Alliance Resource Partners, L.P. from a sell rating to a strong sell rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $26.43.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) opened at 20.00 on Friday. Alliance Resource Partners, L.P. has a 52 week low of $17.65 and a 52 week high of $26.65.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last released its quarterly earnings results on Monday, October 30th. The energy company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.13). Alliance Resource Partners, L.P. had a net margin of 19.47% and a return on equity of 34.60%. The company had revenue of $453.19 million for the quarter, compared to the consensus estimate of $474.34 million. During the same period in the prior year, the firm posted $0.91 EPS. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts forecast that Alliance Resource Partners, L.P. will post $2.76 EPS for the current fiscal year.

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In other Alliance Resource Partners, L.P. news, Director John P. Neafsey acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $19.55 per share, with a total value of $195,500.00. Following the completion of the purchase, the director now directly owns 51,604 shares in the company, valued at approximately $1,008,858.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 44.03% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Manhattan Co. boosted its stake in shares of Alliance Resource Partners, L.P. by 5.7% in the third quarter. First Manhattan Co. now owns 372,639 shares of the energy company’s stock worth $7,210,000 after acquiring an additional 20,000 shares during the period. Adams Asset Advisors LLC boosted its stake in shares of Alliance Resource Partners, L.P. by 27.9% in the third quarter. Adams Asset Advisors LLC now owns 309,046 shares of the energy company’s stock worth $5,980,000 after acquiring an additional 67,502 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Alliance Resource Partners, L.P. in the second quarter worth about $7,600,000. Goldman Sachs Group Inc. boosted its stake in shares of Alliance Resource Partners, L.P. by 26.3% in the second quarter. Goldman Sachs Group Inc. now owns 967,641 shares of the energy company’s stock worth $18,289,000 after acquiring an additional 201,213 shares during the period. Finally, Precept Management LLC bought a new position in shares of Alliance Resource Partners, L.P. in the second quarter worth about $964,000. 14.93% of the stock is owned by hedge funds and other institutional investors.

About Alliance Resource Partners, L.P.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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