Atmos Energy (NYSE:ATO) Sets New 52-Week High After Better-Than-Expected Earnings

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

The utilities provider reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.82 billion. Atmos Energy had a return on equity of 8.89% and a net margin of 25.90%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 earnings per share.

Atmos Energy Dividend Announcement

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Atmos Energy

Large investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC boosted its holdings in Atmos Energy by 3.5% during the fourth quarter. CWA Asset Management Group LLC now owns 2,217 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 75 shares in the last quarter. Albert D Mason Inc. raised its holdings in Atmos Energy by 0.8% during the 4th quarter. Albert D Mason Inc. now owns 9,865 shares of the utilities provider’s stock worth $1,374,000 after purchasing an additional 77 shares during the last quarter. Private Trust Co. NA grew its holdings in Atmos Energy by 26.0% during the 1st quarter. Private Trust Co. NA now owns 378 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 78 shares during the period. Trust Point Inc. boosted its holdings in Atmos Energy by 3.2% during the fourth quarter. Trust Point Inc. now owns 2,567 shares of the utilities provider’s stock worth $358,000 after buying an additional 80 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV boosted its position in shares of Atmos Energy by 4.3% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,968 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 81 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Stock Down 0.9 %

The company has a market capitalization of $25.60 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.94 and a beta of 0.74. The company has a quick ratio of 1.43, a current ratio of 1.56 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $153.41 and a 200-day simple moving average of $146.85.

About Atmos Energy

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.