Adams Resources & Energy, Inc. Plans Quarterly Dividend of $0.24 (NYSE:AE)

Adams Resources & Energy, Inc. (NYSE:AE) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.24 per share on Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, September 13th.

Adams Resources & Energy has a dividend payout ratio of 685.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Adams Resources & Energy to earn $0.06 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 1,600.0%.

Adams Resources & Energy Price Performance

Shares of Adams Resources & Energy stock opened at $24.33 on Thursday. The firm has a market capitalization of $62.46 million, a PE ratio of 36.31 and a beta of 0.79. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. Adams Resources & Energy has a 12 month low of $22.30 and a 12 month high of $37.00. The business’s 50-day moving average price is $24.95 and its 200-day moving average price is $26.50.

Adams Resources & Energy (NYSE:AE) last released its earnings results on Wednesday, August 7th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.66). The company had revenue of $718.49 million during the quarter, compared to the consensus estimate of $644.24 million. Adams Resources & Energy had a negative net margin of 0.05% and a negative return on equity of 5.43%. Sell-side analysts forecast that Adams Resources & Energy will post -1.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Adams Resources & Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 4th.

Adams Resources & Energy Company Profile

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.