Atlas Energy Solutions Inc. (NYSE:AESI) Raises Dividend to $0.22 Per Share

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) announced a quarterly dividend on Monday, May 6th, Zacks reports. Investors of record on Thursday, May 16th will be given a dividend of 0.22 per share on Thursday, May 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Wednesday, May 15th. This is a boost from Atlas Energy Solutions's previous quarterly dividend of $0.21.

Atlas Energy Solutions has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atlas Energy Solutions to earn $4.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 20.3%.

Atlas Energy Solutions Stock Performance

NYSE:AESI traded down $0.42 during trading hours on Tuesday, reaching $22.50. The stock had a trading volume of 835,410 shares, compared to its average volume of 764,032. The stock has a market cap of $2.25 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.54 and a beta of 0.66. The stock has a 50 day simple moving average of $21.99 and a 200 day simple moving average of $19.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. Atlas Energy Solutions has a 12-month low of $15.28 and a 12-month high of $24.69.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.24). The firm had revenue of $141.14 million during the quarter, compared to analysts' expectations of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. On average, research analysts forecast that Atlas Energy Solutions will post 2.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AESI shares. Royal Bank of Canada boosted their target price on shares of Atlas Energy Solutions from $23.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Barclays lifted their target price on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Raymond James increased 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 report on Tuesday, April 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They set a "buy" rating and a $24.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $25.17.

Insider Buying and Selling

In other news, major shareholder Stacy Hock sold 50,000 shares of Atlas Energy Solutions stock in a transaction on Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now directly owns 970,738 shares of the company's stock, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlas Energy Solutions news, EVP Jeffrey L. Allison sold 1,547 shares of Atlas Energy Solutions stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.50, for a total transaction of $34,807.50. Following the transaction, the executive vice president now directly owns 132,518 shares of the company's stock, valued at $2,981,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 50,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares of the company's stock, valued at $19,385,637.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,860 shares of company stock worth $5,332,121. Insiders own 24.34% of the company's stock.

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.