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

Atlas Energy Solutions Inc. (NYSE:AESI) 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 annualized dividend and a yield of 4.56%. 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 research 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 Price Performance

NYSE:AESI traded down $0.31 during trading hours on Wednesday, hitting $21.91. The company’s stock had a trading volume of 1,298,931 shares, compared to its average volume of 1,590,031. The business’s 50-day moving average is $22.66 and its two-hundred day moving average is $21.61. The company has a market capitalization of $2.41 billion, a PE ratio of 27.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a 52-week low of $17.49 and a 52-week high of $26.86.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.02, for a total transaction of $720,600.00. Following the completion of the sale, the insider now directly owns 432,010 shares of the company’s stock, valued at $10,376,880.20. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the sale, the insider now directly owns 917,604 shares of the company’s stock, valued at approximately $20,691,970.20. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,071 shares of company stock valued at $2,708,851. Corporate insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AESI has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Bank of America reiterated a “neutral” rating and set a $22.50 price objective on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Barclays lifted their price objective on Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.