Atmos Energy (NYSE:ATO) Price Target Cut to $143.00 by Analysts at Morgan Stanley

Atmos Energy (NYSE:ATO) had its target price trimmed by Morgan Stanley from $145.00 to $143.00 in a report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays raised their target price on Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group assumed coverage on Atmos Energy in a report on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 price target for the company. Finally, LADENBURG THALM/SH SH lifted their target price on shares of Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.31.

Atmos Energy Price Performance

NYSE ATO opened at $150.13 on Friday. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.80. The stock’s fifty day moving average price is $141.02 and its 200 day moving average price is $128.90. Atmos Energy has a 1 year low of $110.46 and a 1 year high of $151.24.

Atmos Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, November 25th. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s dividend payout ratio is currently 46.87%.

Insider Buying and Selling at Atmos Energy

In related news, Director Edward Geiser purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $144.89 per share, with a total value of $362,225.00. Following the purchase, the director now owns 2,602 shares of the company’s stock, valued at $377,003.78. This trade represents a 2,450.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATO. Miller Howard Investments Inc. NY boosted its stake in shares of Atmos Energy by 0.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 30,179 shares of the utilities provider’s stock worth $3,520,000 after acquiring an additional 82 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Atmos Energy by 3.7% in the third quarter. OneDigital Investment Advisors LLC now owns 2,307 shares of the utilities provider’s stock valued at $320,000 after buying an additional 82 shares during the period. Global Retirement Partners LLC lifted its holdings in Atmos Energy by 1.4% during the 3rd quarter. Global Retirement Partners LLC now owns 5,973 shares of the utilities provider’s stock worth $829,000 after buying an additional 85 shares during the period. Wedbush Securities Inc. increased its position in shares of Atmos Energy by 3.9% during the second quarter. Wedbush Securities Inc. now owns 2,328 shares of the utilities provider’s stock worth $272,000 after buying an additional 88 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Atmos Energy by 5.4% in the second quarter. EP Wealth Advisors LLC now owns 1,880 shares of the utilities provider’s stock valued at $219,000 after buying an additional 97 shares during the period. 90.17% of the stock is currently 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 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.