Alliance Resource Partners, L.P. (NASDAQ:ARLP) Declares $0.70 Quarterly Dividend

Alliance Resource Partners, L.P. (NASDAQ:ARLP) announced a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.70 per share by the energy company on Thursday, November 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 10.48%. The ex-dividend date is Thursday, November 7th.

Alliance Resource Partners has raised its dividend payment by an average of 91.3% annually over the last three years. Alliance Resource Partners has a payout ratio of 80.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Alliance Resource Partners to earn $3.50 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 80.0%.

Alliance Resource Partners Price Performance

Shares of NASDAQ:ARLP opened at $26.72 on Wednesday. The company has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $24.07. Alliance Resource Partners has a one year low of $18.32 and a one year high of $26.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.59 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, October 28th. The energy company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). The business had revenue of $613.57 million during the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.80%. During the same period in the previous year, the company posted $1.18 earnings per share. On average, analysts predict that Alliance Resource Partners will post 3.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Benchmark increased their target price on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st.

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.