Assetmark Inc. Has $12.97 Million Stock Position in Atmos Energy Corporation (NYSE:ATO)

Key Points

• Assetmark Inc. increased its stake in Atmos Energy Corporation by 12.1%, holding a total of 83,876 shares, valued at approximately $12.97 million.
• Several hedge funds have also adjusted their positions in Atmos Energy, with notable increases, including a 191.2% boost by First Horizon Advisors.
• Despite mixed analyst ratings, Atmos Energy reported a 25.35% net margin and earnings per share of $3.03, surpassing expectations.

Assetmark Inc. boosted its stake in Atmos Energy Corporation (NYSE:ATO - Free Report) by 12.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,876 shares of the utilities provider's stock after buying an additional 9,083 shares during the period. Assetmark Inc. owned 0.05% of Atmos Energy worth $12,966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATO. Brighton Jones LLC bought a new position in shares of Atmos Energy during the 4th quarter valued at about $233,000. LPL Financial LLC boosted its holdings in shares of Atmos Energy by 22.5% in the fourth quarter. LPL Financial LLC now owns 91,019 shares of the utilities provider's stock worth $12,676,000 after buying an additional 16,735 shares during the period. Korea Investment CORP boosted its holdings in shares of Atmos Energy by 78.1% in the fourth quarter. Korea Investment CORP now owns 113,773 shares of the utilities provider's stock worth $15,845,000 after buying an additional 49,881 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Atmos Energy by 10.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 293,948 shares of the utilities provider's stock worth $40,797,000 after buying an additional 28,083 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its holdings in shares of Atmos Energy by 25.0% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 16,758 shares of the utilities provider's stock worth $2,334,000 after buying an additional 3,356 shares during the period. Institutional investors own 90.17% of the company's stock.

Atmos Energy Price Performance

Shares of NYSE ATO traded up $0.74 during midday trading on Wednesday, reaching $156.85. 80,883 shares of the company traded hands, compared to its average volume of 963,027. Atmos Energy Corporation has a 12 month low of $126.08 and a 12 month high of $167.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.33. The stock's 50-day simple moving average is $154.34 and its 200-day simple moving average is $151.85. The firm has a market cap of $24.91 billion, a PE ratio of 21.76, a PEG ratio of 2.91 and a beta of 0.70.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. Atmos Energy had a net margin of 25.35% and a return on equity of 9.05%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company earned $2.85 EPS. The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts anticipate that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a $0.87 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.22%. Atmos Energy's dividend payout ratio is 48.33%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group raised their target price on shares of Atmos Energy from $146.00 to $159.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley set a $156.00 price target on shares of Atmos Energy and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Barclays reduced their price target on shares of Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Atmos Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Finally, LADENBURG THALM/SH SH raised shares of Atmos Energy to a "strong-buy" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.14.

Insider Activity

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $150.98, for a total transaction of $2,264,700.00. Following the completion of the sale, the director directly owned 172,632 shares of the company's stock, valued at approximately $26,063,979.36. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

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.