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

Adams Resources & Energy, Inc. (NYSE:AE) announced a quarterly dividend on Tuesday, November 12th,NASDAQ Dividends reports. Investors of record on Friday, December 6th will be paid a dividend of 0.24 per share on Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, December 6th.

Adams Resources & Energy has a dividend payout ratio of 1,600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Stock Performance

NYSE:AE traded up $0.08 during trading hours on Wednesday, reaching $37.13. 72,791 shares of the company’s stock were exchanged, compared to its average volume of 8,947. The firm has a market capitalization of $95.42 million, a price-to-earnings ratio of -11.76 and a beta of 0.79. The company has a 50-day moving average of $26.37 and a 200 day moving average of $26.23. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.33. Adams Resources & Energy has a 1-year low of $22.30 and a 1-year high of $37.90.

Wall Street Analyst Weigh In

Separately, B. Riley reiterated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Adams Resources & Energy in a research note on Wednesday.

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.