Atmos Energy (NYSE:ATO) Reaches New 52-Week High - Here's What Happened

Key Points

• Atmos Energy shares reached a new 52-week high of $167.85 during mid-day trading on Wednesday, closing at $166.88 with over 79,000 shares traded.
• Analysts have revised price targets for the stock, with consensus rating now at a "Moderate Buy" and an average target price of $158.27.
• The company announced a quarterly dividend of $0.87 per share, yielding approximately 2.1%, with the payment scheduled for September 8th.

Atmos Energy Corporation (NYSE:ATO - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $167.85 and last traded at $166.88, with a volume of 79410 shares changing hands. The stock had previously closed at $165.81.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group reissued a "neutral" rating and set a $159.00 price objective (up previously from $146.00) on shares of Atmos Energy in a report on Wednesday, July 30th. Mizuho downgraded Atmos Energy from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $165.00 to $164.00 in a report on Monday, April 28th. Barclays cut their price objective on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. LADENBURG THALM/SH SH reissued a "neutral" rating and set a $163.00 price objective (down previously from $171.00) on shares of Atmos Energy in a report on Friday, August 8th. Finally, Morgan Stanley set a $156.00 target price on Atmos Energy and gave the stock an "overweight" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Atmos Energy has a consensus rating of "Moderate Buy" and a consensus target price of $158.27.

Atmos Energy Price Performance

The company has a market capitalization of $26.81 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 3.03 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.37. The business has a 50 day moving average price of $156.55 and a 200-day moving average price of $153.89.

Atmos Energy (NYSE:ATO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.01). The business had revenue of $838.77 million during the quarter, compared to analyst estimates of $848.97 million. Atmos Energy had a net margin of 25.05% and a return on equity of 9.00%. During the same period in the prior year, the firm earned $1.08 earnings per share. Research analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, August 25th. Atmos Energy's payout ratio is currently 47.80%.

Institutional Investors Weigh In On Atmos Energy

Several institutional investors have recently made changes to their positions in ATO. First Horizon Advisors Inc. increased its holdings in shares of Atmos Energy by 191.2% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider's stock worth $26,000 after purchasing an additional 109 shares during the period. Brooklyn Investment Group lifted its holdings in Atmos Energy by 141.2% in the first quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider's stock worth $36,000 after buying an additional 137 shares during the period. Cary Street Partners Financial LLC purchased a new stake in Atmos Energy in the fourth quarter worth about $37,000. ST Germain D J Co. Inc. lifted its holdings in shares of Atmos Energy by 50.0% during the second quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Finally, WFA of San Diego LLC purchased a new position in shares of Atmos Energy during the second quarter valued at approximately $46,000. 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.

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