No. 16 (tie): Alliance Holdings GP: Coal demand bodes well for Alliance [Tulsa World, Okla.]
(Tulsa World (OK) Via Acquire Media NewsEdge) Sept. 15--Coal is a dirty business, but investment pros think Tulsa's Alliance Holdings GP LP has potential for a clean profit in 2014.
Alliance Holdings owns the controlling interest in Alliance Resource Partners LP, a coal producer and marketer with 11 mines in the eastern United States.
Although power producers are switching to natural gas over coal, there is still huge demand for the fossil fuel
"The coal industry has had a pretty tough go of things lately, as far as power production, but it is still one of the primary sources of energy in this country," said Andrew Boyd, financial analyst and assistant portfolio manager at Gibraltar Capital Management in Tulsa. "Gas prices have jumped up, so a lot of utilities are shifting back towards coal."
Alliance Holdings netted a $61.1 million profit during the second quarter of 2013, a 12.2 percent increase over the previous year.
Alliance Holdings also upped its quarterly cash distribution to 78.5 cents per unit, an annual rate of $3.14 a unit.
Alliance Holdings GP LP
Address: 1717 S. Boulder Ave., Suite 400, Tulsa, OK, 74119
President/CEO/Chairman: Joseph W. Craft III
Symbol (Exchange): AGHP (Nasdaq)
Operation: A holding company with operations in coal production and marketing in the eastern United States
Kyle Arnold 918-581-8380
(c)2013 Tulsa World (Tulsa, Okla.)
Visit Tulsa World (Tulsa, Okla.) at www.tulsaworld.com
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