Atmos Energy (NYSE:ATO) Reaches New 1-Year High on Better-Than-Expected Earnings

Atmos Energy Co. (NYSE:ATO)’s share price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $162.90 and last traded at $162.13, with a volume of 1042680 shares traded. The stock had previously closed at $161.40.

The utilities provider reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. Atmos Energy had a return on equity of 8.89% and a net margin of 25.90%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. The firm’s revenue was up 18.4% compared to the same quarter last year.

Atmos Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.87 per share. The ex-dividend date is Tuesday, May 27th. This represents a $3.48 annualized dividend and a dividend yield of 2.16%. Atmos Energy’s payout ratio is currently 49.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho lowered shares of Atmos Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $165.00 to $164.00 in a report on Monday, April 28th. JPMorgan Chase & Co. raised their target price on shares of Atmos Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Morgan Stanley restated an “overweight” rating on shares of Atmos Energy in a research note on Wednesday, April 23rd. StockNews.com lowered shares of Atmos Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Wolfe Research initiated coverage on Atmos Energy in a research report on Monday, March 31st. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Atmos Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.28.

Institutional Investors Weigh In On Atmos Energy

Several institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in shares of Atmos Energy by 191.2% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider’s stock worth $26,000 after buying an additional 109 shares during the last quarter. Noble Wealth Management PBC acquired a new position in shares of Atmos Energy during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its stake in Atmos Energy by 72.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 103 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Atmos Energy in the fourth quarter valued at about $37,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Atmos Energy by 50.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors.

Atmos Energy Stock Down 0.9 %

The stock’s 50 day moving average is $153.41 and its 200 day moving average is $146.85. The company has a market capitalization of $25.60 billion, a PE ratio of 22.97, a PEG ratio of 2.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.56.

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.