Atlas Energy Solutions Inc. (NYSE:AESI) Declares Dividend Increase – $0.22 Per Share

Atlas Energy Solutions Inc. (NYSE:AESI) announced a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 0.22 per share on Thursday, May 23rd. This represents a $0.88 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21.

Atlas Energy Solutions has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Atlas Energy Solutions to earn $4.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 20.3%.

Atlas Energy Solutions Trading Up 4.3 %

NYSE:AESI opened at $22.92 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. Atlas Energy Solutions has a one year low of $15.28 and a one year high of $24.69. The business’s 50-day simple moving average is $21.99 and its 200 day simple moving average is $19.05. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.54 and a beta of 0.66.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. The firm had revenue of $141.14 million during the quarter, compared to analyst estimates of $147.34 million. As a group, sell-side analysts predict that Atlas Energy Solutions will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Richard W. Schmidt sold 166,710 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $21.94, for a total transaction of $3,657,617.40. Following the sale, the insider now directly owns 1,140,596 shares of the company’s stock, valued at $25,024,676.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Richard W. Schmidt sold 166,710 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $21.94, for a total value of $3,657,617.40. Following the completion of the transaction, the insider now owns 1,140,596 shares in the company, valued at $25,024,676.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Allison sold 1,547 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.50, for a total value of $34,807.50. Following the transaction, the executive vice president now owns 132,518 shares of the company’s stock, valued at $2,981,655. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,860 shares of company stock worth $5,332,121. Company insiders own 24.34% of the company’s stock.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of recent analyst reports. Raymond James boosted their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Barclays increased their price objective on Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Royal Bank of Canada increased their price target on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a report on Thursday, March 14th. They set a “buy” rating and a $24.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.17.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.