Atmos Energy (NYSE:ATO) Hits New 1-Year High – Here’s Why

by · The Markets Daily

Atmos Energy Co. (NYSE:ATO – Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $148.48 and last traded at $148.23, with a volume of 51166 shares traded. The stock had previously closed at $147.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ATO shares. StockNews.com raised Atmos Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH increased their price target on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Atmos Energy from $128.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Barclays raised their target price on Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.94.

Get Our Latest Research Report on Atmos Energy

Atmos Energy Stock Up 1.5 %

The company has a market cap of $23.21 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.94 and a beta of 0.68. The business has a fifty day simple moving average of $140.45 and a two-hundred day simple moving average of $128.42. The company has a current ratio of 0.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.65.

Atmos Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.87 per share. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, November 25th. Atmos Energy’s payout ratio is currently 46.87%.

Insider Activity at Atmos Energy

In other news, Director Edward Geiser bought 2,500 shares of Atmos Energy stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $144.89 per share, with a total value of $362,225.00. Following the completion of the purchase, the director now directly owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. This trade represents a 2,450.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Institutional Trading of Atmos Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dunhill Financial LLC increased its stake in Atmos Energy by 1,542.9% during the third quarter. Dunhill Financial LLC now owns 230 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 216 shares during the last quarter. Innealta Capital LLC purchased a new stake in Atmos Energy in the 2nd quarter valued at about $37,000. PFS Partners LLC purchased a new stake in Atmos Energy in the 3rd quarter valued at about $69,000. GAMMA Investing LLC lifted its position in Atmos Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock valued at $91,000 after buying an additional 335 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Atmos Energy by 248.5% during the first quarter. Covestor Ltd now owns 805 shares of the utilities provider’s stock worth $96,000 after buying an additional 574 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.

Atmos Energy Company Profile

(Get Free Report)

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.

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