Atlas Energy Solutions Inc. (NYSE:AESI) Increases Dividend to $0.25 Per Share

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.25 per share on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24.

Atlas Energy Solutions has a dividend payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Atlas Energy Solutions to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 64.0%.

Atlas Energy Solutions Trading Down 5.5 %

Shares of NYSE AESI traded down $1.21 during trading on Friday, hitting $20.61. 1,602,495 shares of the company traded hands, compared to its average volume of 1,581,200. The firm has a market capitalization of $2.27 billion, a P/E ratio of 26.08 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $22.56 and a 200-day moving average price of $21.65. Atlas Energy Solutions has a 1 year low of $17.49 and a 1 year high of $26.86.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now owns 917,604 shares in the company, valued at approximately $20,691,970.20. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $23.17, for a total value of $115,850.00. Following the sale, the insider now owns 409,510 shares of the company's stock, valued at approximately $9,488,346.70. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,071 shares of company stock valued at $2,493,851 over the last 90 days. 24.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Atlas Energy Solutions from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a report on Friday, December 13th. They set a "neutral" rating and a $23.00 target price for the company. Stephens increased their target price on shares of Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Pickering Energy Partners cut shares of Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

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.