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

Atlas Energy Solutions Inc. (NYSE:AESI) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Friday, February 21st will be paid a dividend of 0.25 per share on Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 4.58%. The ex-dividend date 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 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

AESI stock opened at $21.85 on Friday. The company has a market capitalization of $2.41 billion, a PE ratio of 27.66 and a beta of 1.03. The company’s fifty day moving average price is $22.61 and its 200-day moving average price is $21.64. Atlas Energy Solutions has a one year low of $17.49 and a one year high of $26.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They issued a “neutral” rating and a $23.00 price objective on the stock. Bank of America reiterated a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a research report on Monday, January 13th. Barclays boosted their price target on shares of 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, Benchmark increased their price objective on shares of Atlas Energy Solutions from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 12,500 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now owns 362,010 shares in the company, valued at $8,854,764.60. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 897,604 shares of the company’s stock, valued at $20,196,090. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,071 shares of company stock valued at $2,493,851. Company insiders own 24.34% of the company’s stock.

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.