Earnest Partners LLC Buys 15,415 Shares of Atmos Energy Corporation $ATO

Key Points

• Earnest Partners LLC increased its stake in Atmos Energy Corporation by 3.5%, acquiring an additional 15,415 shares to reach a total of 451,048 shares, valued at approximately $69.7 million.
• Atmos Energy reported Q2 earnings of $1.16 per share, missing expectations by $0.01, with revenues of $838.77 million, also falling short of analyst forecasts.
• The company declared a quarterly dividend of $0.87 per share, reflecting a 2.1% yield, and will be paid to shareholders on September 8th, with a dividend payout ratio of 47.80%.

Earnest Partners LLC boosted its stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,048 shares of the utilities provider's stock after acquiring an additional 15,415 shares during the quarter. Earnest Partners LLC owned 0.28% of Atmos Energy worth $69,723,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in Atmos Energy by 191.2% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider's stock worth $26,000 after acquiring an additional 109 shares in the last quarter. Brooklyn Investment Group raised its stake in Atmos Energy by 141.2% during the first quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider's stock worth $36,000 after acquiring an additional 137 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in Atmos Energy during the fourth quarter worth $37,000. South Plains Financial Inc. acquired a new position in Atmos Energy during the fourth quarter worth $51,000. Finally, Golden State Wealth Management LLC raised its stake in Atmos Energy by 379.7% during the first 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 in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Trading Down 0.3%

ATO stock traded down $0.47 during midday trading on Tuesday, reaching $165.66. The stock had a trading volume of 152,785 shares, compared to its average volume of 967,217. The business has a fifty day simple moving average of $158.93 and a two-hundred day simple moving average of $155.33. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. The firm has a market cap of $26.59 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.07 and a beta of 0.75. Atmos Energy Corporation has a twelve month low of $130.66 and a twelve month high of $168.86.

Atmos Energy (NYSE:ATO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.01). The firm had revenue of $838.77 million during 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 quarter in the previous year, the business earned $1.08 earnings per share. As a group, research analysts expect that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, August 25th. Atmos Energy's dividend payout ratio (DPR) is presently 47.80%.

Analysts Set New Price Targets

ATO has been the subject of several recent analyst reports. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Barclays lowered their target price on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. LADENBURG THALM/SH SH restated a "neutral" rating and issued a $163.00 target price (down from $171.00) on shares of Atmos Energy in a research note on Friday, August 8th. Citigroup raised their target price on Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Argus upgraded Atmos Energy to a "strong-buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Atmos Energy presently has a consensus rating of "Moderate Buy" and an average price target 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.