No. 16 (tie): Alliance Holdings GP: Coal demand bodes well for Alliance
By KYLE ARNOLD World Business Writer on Sep 15, 2013, at 2:29 AM Updated on 9/15/13 at 7:56 AM
Investment Guide
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SemGroup Corp. has been navigating in unchartered territory since the company filed for bankruptcy in 2008, but the energy products transportation and storage firm will soon be without the leader who guided it through choppy waters.
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
Phone: 918-295-1415
Web: allianceholdings.com
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
kyle.arnold@tulsaworld.com
Original Print Headline: Coal demand bodes well for Alliance
Investment Guide
Strong management and a good track record are just a couple of reasons why some investment professionals ranked Laredo Petroleum Holdings Inc. among their top picks.
SemGroup Corp. has been navigating in unchartered territory since the company filed for bankruptcy in 2008, but the energy products transportation and storage firm will soon be without the leader who guided it through choppy waters.
