Morgan Stanley Cuts Atmos Energy (NYSE:ATO) Price Target to $143.00

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

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Atmos Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group initiated 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. JPMorgan Chase & Co. lifted their price objective on shares of Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays lifted their price objective on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised their target price on shares of Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Atmos Energy has a consensus rating of “Moderate Buy” and a consensus target price of $144.31.

Atmos Energy Stock Down 0.1 %

ATO opened at $150.05 on Friday. 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 has a 1-year low of $110.46 and a 1-year high of $151.24. The company has a market capitalization of $23.32 billion, a PE ratio of 21.84, a PEG ratio of 3.01 and a beta of 0.68. The firm’s 50 day simple moving average is $141.02 and its two-hundred day simple moving average is $128.85.

Atmos Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s payout ratio is currently 50.66%.

Insider Buying and Selling at Atmos Energy

In other news, Director Edward Geiser bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the purchase, the director now directly owns 2,602 shares in the company, valued at approximately $377,003.78. This trade represents a 2,450.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

Several large investors have recently made changes to their positions in the company. Dunhill Financial LLC increased its holdings in Atmos Energy by 1,542.9% in the 3rd quarter. Dunhill Financial LLC now owns 230 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 216 shares in the last quarter. Innealta Capital LLC purchased a new position in Atmos Energy during the second quarter worth about $37,000. PFS Partners LLC purchased a new position in Atmos Energy during the third quarter worth about $69,000. GAMMA Investing LLC boosted its stake 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 buying an additional 335 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Atmos Energy by 158.3% during the second quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock worth $116,000 after buying an additional 611 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.