Croban Makes New Investment in Atmos Energy Corporation (NYSE:ATO)

Croban purchased a new stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,027 shares of the utilities provider's stock, valued at approximately $1,395,000. Atmos Energy makes up about 1.3% of Croban's investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds have also recently made changes to their positions in ATO. Brighton Jones LLC bought a new position in shares of Atmos Energy during the fourth quarter worth about $233,000. Proficio Capital Partners LLC bought a new stake in Atmos Energy in the fourth quarter worth approximately $10,319,000. Wealthfront Advisers LLC increased its holdings in Atmos Energy by 513.9% in the fourth quarter. Wealthfront Advisers LLC now owns 32,943 shares of the utilities provider's stock worth $4,588,000 after purchasing an additional 27,577 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Atmos Energy in the fourth quarter worth approximately $233,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Atmos Energy by 72.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider's stock worth $34,000 after purchasing an additional 103 shares in the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

Atmos Energy Stock Down 0.1%

Shares of NYSE ATO traded down $0.11 during trading on Friday, hitting $154.26. The stock had a trading volume of 436,931 shares, compared to its average volume of 914,340. Atmos Energy Corporation has a 12 month low of $119.90 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 company has a market capitalization of $24.50 billion, a PE ratio of 21.43, a PEG ratio of 2.96 and a beta of 0.70. The firm has a fifty day moving average of $154.83 and a two-hundred day moving average of $150.30.

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 (EPS) for the quarter, topping 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 firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business posted $2.85 EPS. The business's revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The business 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. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, May 27th. Atmos Energy's dividend payout ratio (DPR) is currently 48.33%.

Wall Street Analyst Weigh In

ATO has been the subject of a number of research analyst reports. Citigroup lifted their target price on Atmos Energy from $148.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Barclays decreased their price objective on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating for the company in a report on Thursday. LADENBURG THALM/SH SH upgraded Atmos Energy to a "strong-buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Atmos Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Six equities 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.95.

Insiders Place Their Bets

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of the stock in a transaction dated 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 transaction, the director owned 172,632 shares in the company, valued at $26,063,979.36. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by corporate insiders.

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.