State Treasurer State of Michigan cut its stake in shares of Atmos Energy Co. (NYSE:ATO) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the utilities provider’s stock after selling 5,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Atmos Energy were worth $2,956,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ATO. Valeo Financial Advisors LLC grew its holdings in shares of Atmos Energy by 1,666.7% during the first quarter. Valeo Financial Advisors LLC now owns 265 shares of the utilities provider’s stock valued at $27,000 after buying an additional 250 shares during the last quarter. Hexavest Inc. purchased a new stake in shares of Atmos Energy during the second quarter valued at $27,000. Cornerstone Advisors Inc. grew its holdings in shares of Atmos Energy by 105.0% during the first quarter. Cornerstone Advisors Inc. now owns 285 shares of the utilities provider’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Lenox Wealth Management Inc. purchased a new stake in shares of Atmos Energy during the first quarter valued at $31,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Atmos Energy during the first quarter valued at $41,000. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
ATO has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Atmos Energy from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Wednesday, July 24th. Wells Fargo & Co initiated coverage on shares of Atmos Energy in a research report on Monday, July 15th. They set an “outperform” rating and a $119.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $104.00.
Atmos Energy (NYSE:ATO) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The company had revenue of $485.74 million during the quarter, compared to the consensus estimate of $681.16 million. Atmos Energy had a net margin of 16.94% and a return on equity of 9.38%. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts expect that Atmos Energy Co. will post 4.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, August 23rd. This represents a $2.10 dividend on an annualized basis and a yield of 1.93%. Atmos Energy’s dividend payout ratio is presently 52.50%.
Atmos Energy Profile
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 the regulated natural gas distribution and related sales operations in eight states.
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