Alliance Holdings GP, L.P. (AHGP) Raised to Strong-Buy at Zacks Investment Research

Alliance Holdings GP, L.P. (NASDAQ:AHGP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, August 9th. The firm currently has a $30.00 price objective on the energy company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.51% from the stock’s previous close.

According to Zacks, “Alliance Holdings GP, L.P., through its subsidiaries, produces and markets coal primarily to utilities and industrial users in the United States. It produces a range of steam coal with varying sulfur and heat contents. Alliance Holdings GP, L.P. is a limited partnership formed to own and control Alliance Resource Management GP, LLC, the managing general partner of Alliance Resource Partners, L.P., a publicly traded limited partnership engaged in the production and marketing of coal to major U.S. utilities and industrial users. . In addition, the company leases land and operates a coal loading terminal. . Further, it engages in trading of coal, as well as offers services, including ash and scrubber sludge removal, coal yard maintenance, and arranging alternate transportation services. The company is based in Tulsa, Oklahoma. “

A number of other equities research analysts have also commented on AHGP. BidaskClub upgraded Alliance Holdings GP, L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. ValuEngine lowered Alliance Holdings GP, L.P. from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th.

Alliance Holdings GP, L.P. (NASDAQ AHGP) traded up 1.61% during mid-day trading on Wednesday, hitting $26.43. 70,781 shares of the stock were exchanged. The stock has a 50 day moving average of $26.13 and a 200-day moving average of $27.56. Alliance Holdings GP, L.P. has a 52-week low of $22.55 and a 52-week high of $32.70. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 7.63 and a beta of 0.53.

Alliance Holdings GP, L.P. (NASDAQ:AHGP) last issued its earnings results on Monday, July 31st. The energy company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.02. The firm had revenue of $398.60 million during the quarter, compared to analysts’ expectations of $461.30 million. Alliance Holdings GP, L.P. had a net margin of 10.69% and a return on equity of 19.15%. Alliance Holdings GP, L.P.’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Equities analysts predict that Alliance Holdings GP, L.P. will post $3.34 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Alliance Holdings GP, L.P. by 0.6% in the first quarter. Bank of America Corp DE now owns 22,207 shares of the energy company’s stock valued at $609,000 after buying an additional 140 shares in the last quarter. Principal Financial Group Inc. increased its position in Alliance Holdings GP, L.P. by 2.7% in the second quarter. Principal Financial Group Inc. now owns 15,153 shares of the energy company’s stock valued at $359,000 after buying an additional 400 shares in the last quarter. Global X Management Co. LLC increased its position in Alliance Holdings GP, L.P. by 3.9% in the first quarter. Global X Management Co. LLC now owns 11,385 shares of the energy company’s stock valued at $312,000 after buying an additional 430 shares in the last quarter. Advisor Group Inc. increased its position in Alliance Holdings GP, L.P. by 9.3% in the second quarter. Advisor Group Inc. now owns 5,125 shares of the energy company’s stock valued at $122,000 after buying an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Alliance Holdings GP, L.P. by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,033 shares of the energy company’s stock valued at $4,280,000 after buying an additional 3,107 shares in the last quarter. 23.65% of the stock is owned by hedge funds and other institutional investors.

Alliance Holdings GP, L.P. Company Profile

Alliance Holdings GP, L.P. (AHGP) is a limited partnership company. The Company owns directly and indirectly the members’ interest in Alliance Resource Management GP, LLC (MGP), the managing general partner of Alliance Resource Partners, L.P. (ARLP). The Company’s segments include Illinois Basin, Appalachia, and Other and Corporate.

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