Atmos Energy (NYSE:ATO) Given New $124.00 Price Target at Morgan Stanley

Atmos Energy (NYSE:ATO) had its target price increased by equities research analysts at Morgan Stanley from $118.00 to $124.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 3.66% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Citigroup lifted their price target on Atmos Energy from $109.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. UBS Group downgraded Atmos Energy from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Friday, January 31st. Finally, Bank of America raised Atmos Energy from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $118.82.

Shares of NYSE ATO traded up $0.12 during mid-day trading on Friday, reaching $119.62. 188,954 shares of the company’s stock traded hands, compared to its average volume of 882,707. The stock has a market cap of $14.46 billion, a P/E ratio of 26.82, a PEG ratio of 3.53 and a beta of 0.15. The business has a 50-day simple moving average of $114.59 and a 200 day simple moving average of $111.05. Atmos Energy has a 1-year low of $95.52 and a 1-year high of $119.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.96 and a quick ratio of 0.82.

Atmos Energy (NYSE:ATO) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). Atmos Energy had a return on equity of 9.25% and a net margin of 18.36%. The business had revenue of $875.56 million for the quarter, compared to the consensus estimate of $978.77 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Atmos Energy will post 4.69 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ATO. Brookfield Public Securities Group LLC increased its holdings in Atmos Energy by 158.9% in the 4th quarter. Brookfield Public Securities Group LLC now owns 1,167,471 shares of the utilities provider’s stock valued at $130,593,000 after purchasing an additional 716,500 shares during the last quarter. Credit Agricole S A purchased a new position in shares of Atmos Energy during the fourth quarter worth $74,224,000. Magellan Asset Management Ltd boosted its position in shares of Atmos Energy by 9.6% during the fourth quarter. Magellan Asset Management Ltd now owns 3,900,992 shares of the utilities provider’s stock worth $436,365,000 after buying an additional 342,025 shares during the period. Millennium Management LLC boosted its position in shares of Atmos Energy by 1,515.1% during the third quarter. Millennium Management LLC now owns 340,306 shares of the utilities provider’s stock worth $38,757,000 after buying an additional 319,236 shares during the period. Finally, State Street Corp grew its stake in shares of Atmos Energy by 2.6% in the fourth quarter. State Street Corp now owns 8,598,910 shares of the utilities provider’s stock valued at $961,874,000 after buying an additional 215,714 shares in the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.

Atmos Energy Company 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.

Further Reading: Treasury Bonds

Analyst Recommendations for Atmos Energy (NYSE:ATO)

Receive News & Ratings for Atmos Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atmos Energy and related companies with MarketBeat.com's FREE daily email newsletter.