Atmos Energy Corporation $ATO Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its holdings in Atmos Energy by 12.5%, selling 9,531 shares and retaining ownership of 66,893 shares worth approximately $10.34 million.
• Atmos Energy recently reported quarterly earnings of $1.16 per share, missing the analysts' consensus estimate of $1.17 and recording a revenue of $838.77 million.
• The firm announced a quarterly dividend of $0.87, which will be paid on September 8th, representing an annualized dividend yield of 2.1%.

Cresset Asset Management LLC cut its holdings in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,893 shares of the utilities provider's stock after selling 9,531 shares during the quarter. Cresset Asset Management LLC's holdings in Atmos Energy were worth $10,340,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Ethic Inc. increased its holdings in shares of Atmos Energy by 7.9% in the first quarter. Ethic Inc. now owns 48,734 shares of the utilities provider's stock worth $7,551,000 after purchasing an additional 3,568 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Atmos Energy in the first quarter worth about $2,807,000. Aberdeen Group plc increased its holdings in shares of Atmos Energy by 41.7% in the first quarter. Aberdeen Group plc now owns 176,162 shares of the utilities provider's stock worth $26,999,000 after purchasing an additional 51,864 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of Atmos Energy by 7.1% in the first quarter. Horizon Investments LLC now owns 2,297 shares of the utilities provider's stock worth $355,000 after purchasing an additional 153 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of Atmos Energy in the first quarter worth about $223,000. 90.17% of the stock is owned by institutional investors.

Atmos Energy Stock Up 0.4%

NYSE:ATO traded up $0.7470 during trading hours on Thursday, reaching $166.8370. The company's stock had a trading volume of 514,386 shares, compared to its average volume of 973,235. The stock has a 50 day moving average price of $156.82 and a two-hundred day moving average price of $153.98. The company has a market capitalization of $26.78 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 3.06 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. Atmos Energy Corporation has a 12 month low of $128.12 and a 12 month high of $167.85.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $848.97 million. Atmos Energy had a return on equity of 9.00% and a net margin of 25.05%.During the same period in the previous year, the company posted $1.08 earnings per share. Equities analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ATO shares. Wall Street Zen raised Atmos Energy from a "sell" rating to a "hold" rating in a report on Sunday. Mizuho lowered Atmos Energy from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $165.00 to $164.00 in a research report on Monday, April 28th. Barclays dropped their price target on 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. Morgan Stanley set a $156.00 price target on Atmos Energy and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Finally, UBS Group reiterated a "neutral" rating and issued a $159.00 price target (up previously from $146.00) on shares of Atmos Energy in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.27.

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.