Zimmer Partners LP Makes New Investment in Atlas Energy Solutions Inc. $AESI

Key Points

• Zimmer Partners LP acquired 1 million shares of Atlas Energy Solutions Inc. ($AESI) valued at approximately $17.84 million, representing a 0.82% ownership stake as per its latest SEC filing.
• Atlas Energy Solutions announced a quarterly dividend of $0.25 per share, with a significant annualized yield of 9.3%, although the dividend payout ratio stands at 714.29%.
• Analyst ratings for Atlas Energy Solutions reveal a mixed outlook, with price targets dropping, where Piper Sandler set a new target of $14, maintaining a "neutral" rating.

Zimmer Partners LP acquired a new stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,000,000 shares of the company's stock, valued at approximately $17,840,000. Zimmer Partners LP owned 0.82% of Atlas Energy Solutions as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after buying an additional 1,047 shares during the period. Fifth Third Bancorp grew its stake in shares of Atlas Energy Solutions by 1,240.1% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock valued at $35,000 after buying an additional 1,823 shares during the period. Larson Financial Group LLC grew its stake in shares of Atlas Energy Solutions by 201.8% during the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock valued at $35,000 after buying an additional 1,316 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Atlas Energy Solutions during the 1st quarter worth $55,000. Finally, Canton Hathaway LLC purchased a new position in shares of Atlas Energy Solutions in the 1st quarter worth $73,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

Atlas Energy Solutions Stock Down 1.3%

Atlas Energy Solutions stock traded down $0.14 during midday trading on Friday, hitting $10.79. 1,244,110 shares of the stock were exchanged, compared to its average volume of 1,457,073. Atlas Energy Solutions Inc. has a 1 year low of $10.40 and a 1 year high of $26.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.30. The firm has a market cap of $1.34 billion, a P/E ratio of 77.08 and a beta of 1.19. The company has a 50 day moving average price of $12.35 and a two-hundred day moving average price of $13.88.

Atlas Energy Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. Atlas Energy Solutions's payout ratio is 714.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AESI. Stifel Nicolaus lowered their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Piper Sandler reduced their price objective on Atlas Energy Solutions from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.83.

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.