Atlas Energy Solutions Inc. (NYSE:AESI) Announces Dividend Increase – $0.23 Per Share

Atlas Energy Solutions Inc. (NYSE:AESI) announced a quarterly dividend on Monday, August 5th, Zacks reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.23 per share on Thursday, August 22nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Thursday, August 15th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22.

Atlas Energy Solutions has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atlas Energy Solutions to earn $3.19 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 27.6%.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI traded up $0.66 during mid-day trading on Wednesday, reaching $19.81. 154,424 shares of the company were exchanged, compared to its average volume of 913,770. The company’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $20.88. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.98 billion, a P/E ratio of 10.64, a P/E/G ratio of 4.88 and a beta of 0.56. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last posted its earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The company had revenue of $192.67 million for the quarter, compared to analyst estimates of $196.39 million. Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, research analysts predict that Atlas Energy Solutions will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Chad M. Mcever sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the transaction, the insider now directly owns 451,755 shares in the company, valued at approximately $11,090,585.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard bought 60,393 shares of Atlas Energy Solutions stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $19.05 per share, with a total value of $1,150,486.65. Following the acquisition, the insider now directly owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Chad M. Mcever sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the sale, the insider now directly owns 451,755 shares in the company, valued at $11,090,585.25. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 134,526 shares of company stock valued at $2,611,884 and have sold 214,243 shares valued at $5,029,887. Insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AESI shares. Stephens restated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday. Raymond James raised their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group raised their price target on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Piper Sandler lowered their price target on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. assumed coverage on shares of Atlas Energy Solutions in a research report on Monday, June 24th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Atlas Energy Solutions presently has a consensus rating of “Buy” and a consensus price target of $26.44.

Atlas Energy Solutions Company Profile

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.