Atmos Energy Corporation (NYSE:ATO) Shares Sold by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC reduced its holdings in Atmos Energy by 20.7%, owning 213,731 shares after selling 55,706 shares in the first quarter.
• Atmos Energy reported a quarterly EPS of $3.03, beating estimates of $2.92, with a revenue of $1.95 billion, which is an 18.4% increase year-over-year.
• Multiple analysts have upgraded or rated Atmos Energy with a "Moderate Buy" consensus and an average price target set at $157.14.

Dearborn Partners LLC lessened its holdings in Atmos Energy Corporation (NYSE:ATO - Free Report) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 213,731 shares of the utilities provider's stock after selling 55,706 shares during the period. Atmos Energy makes up about 1.6% of Dearborn Partners LLC's investment portfolio, making the stock its 23rd largest position. Dearborn Partners LLC owned about 0.13% of Atmos Energy worth $33,038,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC purchased a new stake in shares of Atmos Energy in the fourth quarter valued at $233,000. LPL Financial LLC boosted its stake in shares of Atmos Energy by 22.5% during the fourth quarter. LPL Financial LLC now owns 91,019 shares of the utilities provider's stock valued at $12,676,000 after purchasing an additional 16,735 shares during the period. Blair William & Co. IL boosted its stake in shares of Atmos Energy by 9.8% during the fourth quarter. Blair William & Co. IL now owns 3,135 shares of the utilities provider's stock valued at $437,000 after purchasing an additional 281 shares during the period. New Age Alpha Advisors LLC boosted its stake in shares of Atmos Energy by 856.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,396 shares of the utilities provider's stock valued at $194,000 after purchasing an additional 1,250 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its stake in Atmos Energy by 17.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,880 shares of the utilities provider's stock worth $680,000 after acquiring an additional 728 shares during the period. Institutional investors own 90.17% of the company's stock.

Atmos Energy Trading Down 0.1%

NYSE ATO traded down $0.15 during trading hours on Friday, hitting $155.77. 829,913 shares of the company's stock were exchanged, compared to its average volume of 967,599. The business's 50 day moving average is $154.33 and its 200-day moving average is $151.88. Atmos Energy Corporation has a 12-month low of $126.08 and a 12-month high of $167.45. The firm has a market capitalization of $24.74 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 2.94 and a beta of 0.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.33.

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

Atmos Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.87 dividend. 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%.

Insider Activity

In other news, Director Kim R. Cocklin sold 15,000 shares of the stock in a transaction dated 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 owned 172,632 shares in the company, valued at approximately $26,063,979.36. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

ATO has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Atmos Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. LADENBURG THALM/SH SH upgraded Atmos Energy to a "strong-buy" rating in a research report on Friday, May 9th. UBS Group restated a "neutral" rating and issued a $159.00 price objective (up previously from $146.00) on shares of Atmos Energy in a research report on Wednesday. Finally, Citigroup upped their price objective on Atmos Energy from $148.00 to $163.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $157.14.

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.