Atmos Energy (NYSE:ATO) Reaches New 1-Year High on Analyst Upgrade

Atmos Energy Co. (NYSE:ATO) reached a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $148.00 to $165.00. Mizuho currently has an outperform rating on the stock. Atmos Energy traded as high as $151.68 and last traded at $151.52, with a volume of 18105 shares. The stock had previously closed at $150.33.

Several other brokerages also recently weighed in on ATO. Morgan Stanley lowered their target price on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. LADENBURG THALM/SH SH upped their price objective on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Barclays lifted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group started coverage on Atmos Energy in a report on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.69.

Insider Transactions at Atmos Energy

In other news, Director Edward Geiser acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $144.89 per share, with a total value of $362,225.00. Following the purchase, the director now directly owns 2,602 shares of the company’s stock, valued at approximately $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 through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in Atmos Energy by 33.6% in the 1st quarter. Tidal Investments LLC now owns 15,737 shares of the utilities provider’s stock valued at $1,871,000 after acquiring an additional 3,954 shares during the last quarter. iA Global Asset Management Inc. raised its position in shares of Atmos Energy by 7.5% during the 1st quarter. iA Global Asset Management Inc. now owns 5,643 shares of the utilities provider’s stock worth $671,000 after purchasing an additional 394 shares during the last quarter. Swedbank AB purchased a new stake in Atmos Energy in the 1st quarter valued at approximately $726,000. Atria Investments Inc grew its holdings in Atmos Energy by 37.1% during the 1st quarter. Atria Investments Inc now owns 30,912 shares of the utilities provider’s stock valued at $3,675,000 after buying an additional 8,363 shares during the last quarter. Finally, PGGM Investments increased its position in Atmos Energy by 1.3% during the first quarter. PGGM Investments now owns 51,422 shares of the utilities provider’s stock worth $6,113,000 after buying an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Atmos Energy Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $142.10 and a two-hundred day moving average price of $129.66. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 3.00 and a beta of 0.68.

Atmos Energy Increases Dividend

The company also recently announced 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 2.30%. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, November 25th. Atmos Energy’s dividend payout ratio is 50.66%.

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.