Seaport Global Securities Reaffirms “Buy” Rating for Atmos Energy (ATO)

Atmos Energy (NYSE:ATO)‘s stock had its “buy” rating restated by stock analysts at Seaport Global Securities in a research report issued to clients and investors on Thursday. They currently have a $98.00 price target on the utilities provider’s stock. Seaport Global Securities’ price target suggests a potential upside of 4.06% from the stock’s previous close. Seaport Global Securities also issued estimates for Atmos Energy’s Q4 2018 earnings at $0.35 EPS and FY2018 earnings at $3.96 EPS.

Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Atmos Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Barclays upped their target price on shares of Atmos Energy from $80.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, July 11th. Morgan Stanley dropped their target price on shares of Atmos Energy from $94.00 to $91.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 13th. Finally, Citigroup upped their target price on shares of Atmos Energy from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $90.75.

Shares of Atmos Energy stock traded up $1.14 on Thursday, hitting $94.18. 281,200 shares of the company’s stock traded hands, compared to its average volume of 522,496. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.53 and a beta of 0.19. Atmos Energy has a one year low of $76.46 and a one year high of $94.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.22 and a current ratio of 0.31.

Atmos Energy (NYSE:ATO) last issued its earnings results on Wednesday, August 8th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $562.25 million for the quarter, compared to the consensus estimate of $622.30 million. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. research analysts forecast that Atmos Energy will post 3.98 EPS for the current fiscal year.

In related news, insider Richard W. Douglas sold 35,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $93.04, for a total value of $3,256,400.00. Following the completion of the sale, the insider now owns 6,292 shares in the company, valued at approximately $585,407.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Nancy K. Quinn sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $93.05, for a total transaction of $186,100.00. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new stake in shares of Atmos Energy in the 2nd quarter valued at $111,000. Envestnet Asset Management Inc. increased its position in shares of Atmos Energy by 184.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,603 shares of the utilities provider’s stock valued at $138,000 after buying an additional 1,039 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of Atmos Energy in the 1st quarter valued at $202,000. Eagle Global Advisors LLC bought a new stake in shares of Atmos Energy in the 2nd quarter valued at $207,000. Finally, Carnegie Capital Asset Management LLC bought a new stake in shares of Atmos Energy in the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 73.76% of the company’s stock.

About Atmos Energy

Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through Distribution, and Pipeline and Storage segments. The Distribution segment is involved in regulated natural gas distribution, and related sales and storage operations.

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