ARLP has finished a new mine. This has increased revenue substantially. The fixed costs of this corporate structure has not changed. Therefore, much of the increased revenue is falling to the bottom line. Thus, the increase in earnings is not due to a fluke, just due to a new mine. Baring a major mining accident, these new earnings should be there permenantly.
The MLRP structure dictates that 90% of the earnings goes to distribution. This means that the distribution will go near $6/share. Thus, if we have an 8% distribution, then we should go to $70/share. So, I would keep this for a while.
BTU is a pretty good company. However, I never buy an investment that does not pay a decent dividend. That has always been my style. I have found that, over the years, a company that pays a good dividend (and has the financial ability to maintain that dividend) just does not go down too much. BTU doesn't pay a reasonable dividend. I imagine a lot of people feel like I do.