Atmos Energy (NYSE:ATO) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Atmos Energy (NYSE:ATO) in a research report released on Wednesday, FinViz reports. The brokerage issued a neutral rating and a $109.00 price target on the utilities provider’s stock.

Several other research analysts have also recently weighed in on ATO. Mizuho started coverage on shares of Atmos Energy in a research report on Wednesday, October 16th. They issued a neutral rating and a $114.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Atmos Energy from $119.00 to $118.00 and set an overweight rating for the company in a research report on Thursday, October 17th. ValuEngine cut shares of Atmos Energy from a buy rating to a hold rating in a research note on Wednesday, September 4th. Goldman Sachs Group started coverage on shares of Atmos Energy in a research note on Thursday, September 19th. They issued a buy rating and a $121.00 price target for the company. Finally, Argus increased their price target on shares of Atmos Energy to $125.00 and gave the stock a positive rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $116.50.

Atmos Energy stock opened at $106.52 on Wednesday. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 3.28 and a beta of 0.14. The company has a quick ratio of 0.27, a current ratio of 0.38 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $109.23 and a 200 day simple moving average of $108.32. Atmos Energy has a 52 week low of $87.88 and a 52 week high of $115.19.

Atmos Energy (NYSE:ATO) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $443.68 million for the quarter, compared to analysts’ expectations of $582.98 million. Atmos Energy had a return on equity of 9.19% and a net margin of 17.62%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. On average, research analysts anticipate that Atmos Energy will post 4.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.575 per share. The ex-dividend date is Friday, November 22nd. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a dividend yield of 2.16%. Atmos Energy’s dividend payout ratio is 52.87%.

In related news, SVP David J. Park sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $106.92, for a total transaction of $427,680.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.39% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ATO. Magellan Asset Management Ltd lifted its holdings in shares of Atmos Energy by 7.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 2,911,393 shares of the utilities provider’s stock worth $307,327,000 after acquiring an additional 199,331 shares during the last quarter. Invesco Ltd. boosted its position in Atmos Energy by 153.1% during the second quarter. Invesco Ltd. now owns 2,132,008 shares of the utilities provider’s stock valued at $225,055,000 after buying an additional 1,289,585 shares during the period. Northern Trust Corp grew its stake in shares of Atmos Energy by 8.6% during the second quarter. Northern Trust Corp now owns 1,373,896 shares of the utilities provider’s stock valued at $145,028,000 after buying an additional 108,766 shares during the last quarter. Maple Brown Abbott Ltd grew its stake in shares of Atmos Energy by 6.9% during the third quarter. Maple Brown Abbott Ltd now owns 1,272,033 shares of the utilities provider’s stock valued at $144,872,000 after buying an additional 82,150 shares during the last quarter. Finally, Sfmg LLC increased its holdings in shares of Atmos Energy by 6.8% in the second quarter. Sfmg LLC now owns 1,188,542 shares of the utilities provider’s stock worth $128,517,000 after buying an additional 75,420 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

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 the regulated natural gas distribution and related sales operations in eight states.

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Analyst Recommendations for Atmos Energy (NYSE:ATO)

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