Atmos Energy (NYSE:ATO) Announces Quarterly Earnings Results

Atmos Energy (NYSE:ATO) issued its quarterly earnings results on Friday. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $737.48 million during the quarter. Atmos Energy had a return on equity of 9.00% and a net margin of 25.05%.

Atmos Energy Stock Down 1.7%

NYSE:ATO traded down $2.97 during mid-day trading on Friday, hitting $175.00. 1,321,807 shares of the company’s stock traded hands, compared to its average volume of 941,950. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.37. The company has a market capitalization of $28.09 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.90 and a beta of 0.73. The company has a fifty day moving average of $171.87 and a 200 day moving average of $162.77. Atmos Energy has a twelve month low of $136.05 and a twelve month high of $180.65.

Atmos Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $4.00 annualized dividend and a yield of 2.3%. This is an increase from Atmos Energy’s previous quarterly dividend of $0.87. Atmos Energy’s dividend payout ratio is currently 53.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ATO shares. Morgan Stanley raised their target price on shares of Atmos Energy from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Mizuho increased their price objective on shares of Atmos Energy from $164.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, September 26th. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $163.00 price objective (down previously from $171.00) on shares of Atmos Energy in a research note on Friday, August 8th. Wall Street Zen upgraded Atmos Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Barclays set a $175.00 target price on Atmos Energy in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in shares of Atmos Energy in the third quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Atmos Energy during the 3rd quarter valued at approximately $29,000. SBI Securities Co. Ltd. lifted its holdings in Atmos Energy by 105.4% during the third quarter. SBI Securities Co. Ltd. now owns 191 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 98 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Atmos Energy in the 3rd quarter worth about $33,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Atmos Energy by 625.8% in the third quarter. Johnson Financial Group Inc. now owns 225 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

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 two segments, Distribution, and Pipeline and Storage. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states.