Confluence Wealth Services Inc. Invests $263,000 in Atmos Energy Corporation (NYSE:ATO)

Confluence Wealth Services Inc. acquired a new stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,647 shares of the utilities provider's stock, valued at approximately $263,000.

A number of other institutional investors have also modified their holdings of ATO. Noble Wealth Management PBC acquired a new stake in Atmos Energy in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Atmos Energy by 72.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider's stock valued at $34,000 after buying an additional 103 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Atmos Energy during the 4th quarter valued at approximately $37,000. South Plains Financial Inc. purchased a new stake in Atmos Energy in the fourth quarter valued at approximately $51,000. Finally, Golden State Wealth Management LLC raised its position in Atmos Energy by 379.7% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 90.17% of the company's stock.

Insider Buying and Selling

In related news, Director Kim R. Cocklin sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 $26,063,979.36. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Atmos Energy Stock Performance

Shares of NYSE:ATO traded down $0.34 during trading on Tuesday, reaching $153.77. 980,324 shares of the company's stock traded hands, compared to its average volume of 922,190. Atmos Energy Corporation has a 12 month low of $113.46 and a 12 month high of $167.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 1.25. The stock has a market capitalization of $24.42 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70. The company has a 50 day moving average of $155.94 and a 200-day moving average of $149.62.

Atmos Energy (NYSE:ATO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.82 billion. Atmos Energy had a net margin of 25.35% and a return on equity of 9.05%. The business's revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $2.85 earnings per share. On average, equities analysts expect that Atmos Energy Corporation will post 7.18 EPS for the current year.

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, May 27th. Atmos Energy's dividend payout ratio is presently 48.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATO shares. Wall Street Zen upgraded shares of Atmos Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley set a $156.00 price target on shares of Atmos Energy and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Argus raised shares of Atmos Energy to a "strong-buy" rating in a report on Wednesday, May 28th. LADENBURG THALM/SH SH upgraded shares of Atmos Energy to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Wolfe Research began coverage on shares of Atmos Energy in a research note on Monday, March 31st. They set a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Atmos Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.05.

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.