Croban Purchases New Stake in Atmos Energy Corporation (NYSE:ATO)

Croban acquired a new position in Atmos Energy Corporation (NYSE:ATO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,027 shares of the utilities provider's stock, valued at approximately $1,395,000. Atmos Energy comprises about 1.3% of Croban's holdings, making the stock its 23rd largest holding.

A number of other large investors have also made changes to their positions in ATO. First Horizon Advisors Inc. grew its holdings in Atmos Energy by 191.2% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 109 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 worth $34,000 after buying an additional 103 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Atmos Energy in the fourth quarter valued at $37,000. South Plains Financial Inc. purchased a new stake in Atmos Energy in the 4th quarter valued at about $51,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Atmos Energy by 379.7% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the utilities provider's stock worth $51,000 after acquiring an additional 262 shares during the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kim R. Cocklin sold 15,000 shares of the stock in a transaction 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 owned 172,632 shares in the company, valued at $26,063,979.36. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company's stock.

Atmos Energy Stock Up 0.9%

Shares of NYSE:ATO traded up $1.34 during trading on Monday, hitting $155.53. 733,051 shares of the company were exchanged, compared to its average volume of 1,001,192. The firm's 50 day moving average price is $154.83 and its 200-day moving average price is $150.44. 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 stock has a market capitalization of $24.70 billion, a P/E ratio of 21.60, a PEG ratio of 2.96 and a beta of 0.70.

Atmos Energy (NYSE:ATO - Get Free Report) last released 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. 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm posted $2.85 earnings per share. Atmos Energy's revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts predict that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were given 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 2.24%. Atmos Energy's dividend payout ratio (DPR) is presently 48.33%.

Analysts Set New Price Targets

ATO has been the subject of a number of research analyst reports. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Barclays dropped 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 note on Thursday. Argus upgraded Atmos Energy to a "strong-buy" rating in a research note on Wednesday, May 28th. Morgan Stanley set a $156.00 target price on Atmos Energy and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. increased their price target on Atmos Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Six 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $156.95.

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.