Atmos Energy (ATO) Stock Rating Lowered by Zacks Investment Research
Atmos Energy (NYSE:ATO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Atmos Energy Corporation, headquartered in Dallas, is the country’s largest natural-gas-only distributor, serving over three million natural gas distribution customers in communities from the Blue Ridge Mountains in the East to the Rocky Mountains in the West. Atmos Energy also manages company-owned natural gas pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas and currently provides natural gas marketing and procurement services to industrial, commercial and municipal customers primarily in the Midwest and Southeast. “
Several other brokerages also recently issued reports on ATO. Bank of America restated a “buy” rating on shares of Atmos Energy in a report on Tuesday, February 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $87.00 price target (down from $90.00) on shares of Atmos Energy in a report on Thursday, February 8th. Barclays set a $80.00 price target on Atmos Energy and gave the stock an “underweight” rating in a report on Thursday, February 8th. Finally, Argus lowered their price target on Atmos Energy from $97.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $84.60.
Atmos Energy (NYSE:ATO) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.27. During the same period in the prior year, the company earned $1.08 earnings per share. sell-side analysts predict that Atmos Energy will post 3.99 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Atmos Energy by 7.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 22,760 shares of the utilities provider’s stock worth $1,908,000 after buying an additional 1,500 shares during the period. Wells Fargo & Company MN boosted its position in shares of Atmos Energy by 14.6% during the third quarter. Wells Fargo & Company MN now owns 386,096 shares of the utilities provider’s stock worth $32,370,000 after buying an additional 49,231 shares during the period. AMP Capital Investors Ltd boosted its position in shares of Atmos Energy by 19.6% during the third quarter. AMP Capital Investors Ltd now owns 115,757 shares of the utilities provider’s stock worth $9,705,000 after buying an additional 18,958 shares during the period. Patten Group Inc. boosted its position in shares of Atmos Energy by 1,403.7% during the third quarter. Patten Group Inc. now owns 78,118 shares of the utilities provider’s stock worth $436,000 after buying an additional 72,923 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Atmos Energy by 11.7% during the third quarter. California Public Employees Retirement System now owns 268,404 shares of the utilities provider’s stock worth $22,503,000 after buying an additional 28,104 shares during the period. 72.46% of the stock is owned by institutional investors.
Atmos Energy Company Profile
Atmos Energy Corporation is a fully-regulated, natural-gas-only distributor engaged primarily in the regulated natural gas distribution and pipeline businesses, as well as other nonregulated natural gas businesses. It operates through three segments: regulated distribution segment, which includes its regulated distribution and related sales operations; regulated pipeline segment, which includes pipeline and storage operations of its Atmos Pipeline-Texas Division, and nonregulated segment, which includes its nonregulated natural gas management, nonregulated natural gas transmission, storage and other services.
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