Atlas Energy Solutions Inc. (AESI) to Issue Quarterly Dividend of $0.23 on August 22nd

Atlas Energy Solutions Inc. (NYSE:AESI) declared a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Thursday, August 15th will be paid 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.4 %

Shares of Atlas Energy Solutions stock traded up $0.66 during trading hours on Wednesday, reaching $19.81. 154,424 shares of the company’s stock were exchanged, compared to its average volume of 913,770. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 4.88 and a beta of 0.56. The company has a fifty day moving average of $20.68 and a 200-day moving average of $20.88. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, May 6th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.12). The firm had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. Sell-side analysts forecast that Atlas Energy Solutions will post 1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AESI. Piper Sandler cut their target price on 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. The Goldman Sachs Group increased their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Bank of America lowered their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reiterated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday. Finally, Tudor, Pickering, Holt & Co. assumed coverage on Atlas Energy Solutions in a report on Monday, June 24th. They issued a “buy” rating for the company. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Buy” and an average target price of $26.44.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 60,393 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $19.05 per share, with a total value of $1,150,486.65. Following the completion of the acquisition, the insider now owns 7,383,018 shares in the company, 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. In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 3,248 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the acquisition, the insider now owns 7,503,197 shares in the company, valued at approximately $162,669,310.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Gregory M. Shepard purchased 60,393 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $19.05 per share, for a total transaction of $1,150,486.65. Following the acquisition, the insider now owns 7,383,018 shares of the company’s stock, valued at approximately $140,646,492.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 134,526 shares of company stock valued at $2,611,884 and have sold 214,243 shares valued at $5,029,887. 24.34% of the stock is currently owned by corporate insiders.

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.