Atmos Energy FY2024 EPS Forecast Raised by Seaport Res Ptn

Atmos Energy Co. (NYSE:ATO) – Equities research analysts at Seaport Res Ptn upped their FY2024 EPS estimates for shares of Atmos Energy in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $6.78 per share for the year, up from their previous estimate of $6.76. The consensus estimate for Atmos Energy’s current full-year earnings is $6.79 per share.

Atmos Energy (NYSE:ATO) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Atmos Energy had a net margin of 25.09% and a return on equity of 8.94%. The company had revenue of $701.55 million during the quarter, compared to analyst estimates of $924.75 million. During the same period last year, the business earned $0.94 EPS.

A number of other research firms have also recently commented on ATO. Barclays raised their target price on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group began coverage on shares of Atmos Energy in a report on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 target price for the company. Morgan Stanley lifted their price objective on shares of Atmos Energy from $128.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, LADENBURG THALM/SH SH boosted their target price on shares of Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $143.94.

Atmos Energy Stock Performance

Shares of NYSE ATO opened at $138.40 on Friday. The firm’s 50-day moving average price is $137.10 and its 200-day moving average price is $125.77. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $21.48 billion, a PE ratio of 20.38, a PEG ratio of 2.79 and a beta of 0.68. Atmos Energy has a 52-week low of $107.82 and a 52-week high of $144.32.

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, August 26th. Atmos Energy’s dividend payout ratio is presently 47.28%.

Hedge Funds Weigh In On Atmos Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ATO. Innealta Capital LLC acquired a new position in Atmos Energy during the second quarter worth approximately $37,000. PFS Partners LLC purchased a new stake in Atmos Energy during the third quarter worth $69,000. GAMMA Investing LLC boosted its position in Atmos Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock worth $91,000 after purchasing an additional 335 shares in the last quarter. Covestor Ltd boosted its position 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 purchasing an additional 574 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Atmos Energy by 158.3% in the second quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 611 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.