Castellan Group Takes Position in Atmos Energy Corporation (NYSE:ATO)

Key Points

• Castellan Group purchased a new stake in Atmos Energy Corporation, acquiring 21,406 shares valued at approximately $3.3 million.
• Atmos Energy reported a quarterly EPS of $3.03, surpassing expectations, with a notable increase in revenue of 18.4% year-over-year.
• The company recently declared a quarterly dividend of $0.87 per share, reflecting a dividend yield of 2.2% and a payout ratio of 48.33%.

Castellan Group bought a new stake in Atmos Energy Corporation (NYSE:ATO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,406 shares of the utilities provider's stock, valued at approximately $3,309,000.

Several other hedge funds have also recently added to or reduced their stakes in ATO. Capital International Investors lifted its holdings in shares of Atmos Energy by 211.8% during the 4th quarter. Capital International Investors now owns 8,160,144 shares of the utilities provider's stock valued at $1,136,463,000 after purchasing an additional 5,543,451 shares in the last quarter. Geode Capital Management LLC lifted its stake in Atmos Energy by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,806,449 shares of the utilities provider's stock valued at $528,760,000 after buying an additional 107,700 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Atmos Energy by 7.8% in the fourth quarter. Invesco Ltd. now owns 3,107,267 shares of the utilities provider's stock valued at $432,749,000 after buying an additional 223,809 shares during the period. Deutsche Bank AG increased its position in shares of Atmos Energy by 1.9% during the fourth quarter. Deutsche Bank AG now owns 3,078,424 shares of the utilities provider's stock worth $428,732,000 after acquiring an additional 58,391 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Atmos Energy by 146.2% during the fourth quarter. Bank of America Corp DE now owns 1,713,421 shares of the utilities provider's stock worth $238,628,000 after acquiring an additional 1,017,575 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company's stock.

Insider Buying and Selling at Atmos Energy

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

Atmos Energy Stock Performance

Shares of ATO traded down $0.15 during midday trading on Friday, reaching $155.77. The stock had a trading volume of 829,913 shares, compared to its average volume of 602,884. Atmos Energy Corporation has a one year low of $126.08 and a one year high of $167.45. The firm has a market cap of $24.74 billion, a PE ratio of 21.63, a P/E/G ratio of 2.93 and a beta of 0.69. The firm has a 50 day simple moving average of $154.31 and a 200-day simple moving average of $152.18. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65.

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

Atmos Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.87 per share. The ex-dividend date was Tuesday, May 27th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Atmos Energy's dividend payout ratio (DPR) is 48.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Atmos Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Wall Street Zen raised Atmos Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley set a $156.00 target price on Atmos Energy and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Argus raised Atmos Energy to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Atmos Energy to a "strong-buy" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.14.

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.