Element Capital Management LLC Acquires Shares of 18,160 Atmos Energy Corporation $ATO

Key Points

• Element Capital Management LLC has acquired a new position in Atmos Energy Corporation (NYSE:ATO), purchasing 18,160 shares valued at approximately $2.8 million, which constitutes 0.7% of its investment portfolio.
• Atmos Energy reported a quarterly earnings per share (EPS) of $1.16, slightly missing the consensus estimate of $1.17, with revenue of $838.77 million, below the expected $848.97 million.
• The company is set to pay a quarterly dividend of $0.87 on September 8th, with a current yield of 2.1% and a payout ratio of 47.80%.

Element Capital Management LLC purchased a new stake in Atmos Energy Corporation (NYSE:ATO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,160 shares of the utilities provider's stock, valued at approximately $2,807,000. Atmos Energy comprises approximately 0.7% of Element Capital Management LLC's portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently made changes to their positions in the business. SouthState Corp boosted its position in Atmos Energy by 4.9% during the first quarter. SouthState Corp now owns 1,447 shares of the utilities provider's stock worth $224,000 after purchasing an additional 67 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Atmos Energy by 3.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,871 shares of the utilities provider's stock worth $289,000 after buying an additional 68 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Atmos Energy by 26.0% during the 1st quarter. Private Trust Co. NA now owns 378 shares of the utilities provider's stock worth $58,000 after buying an additional 78 shares during the period. Smith Shellnut Wilson LLC ADV grew its position in shares of Atmos Energy by 4.3% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,968 shares of the utilities provider's stock valued at $304,000 after purchasing an additional 81 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Atmos Energy by 0.7% in the 1st quarter. D.A. Davidson & CO. now owns 11,029 shares of the utilities provider's stock valued at $1,705,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 90.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ATO shares. LADENBURG THALM/SH SH restated a "neutral" rating and set a $163.00 price objective (down previously from $171.00) on shares of Atmos Energy in a report on Friday, August 8th. Mizuho cut Atmos Energy from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $165.00 to $164.00 in a report on Monday, April 28th. Citigroup lifted their target price on shares of Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. UBS Group reiterated a "neutral" rating and set a $159.00 price target (up previously from $146.00) on shares of Atmos Energy in a research report on Wednesday, July 30th. Finally, Morgan Stanley set a $156.00 price objective on Atmos Energy and gave the company an "overweight" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Atmos Energy presently has an average rating of "Moderate Buy" and a consensus price target of $158.27.

Atmos Energy Stock Up 0.1%

Shares of ATO stock traded up $0.1720 during trading on Wednesday, reaching $165.9820. The company's stock had a trading volume of 766,223 shares, compared to its average volume of 932,934. The business has a fifty day moving average price of $156.82 and a 200-day moving average price of $153.98. Atmos Energy Corporation has a one year low of $128.12 and a one year high of $167.85. 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 company has a market cap of $26.64 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 3.06 and a beta of 0.69.

Atmos Energy (NYSE:ATO - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). Atmos Energy had a net margin of 25.05% and a return on equity of 9.00%. The firm had revenue of $838.77 million during the quarter, compared to the consensus estimate of $848.97 million. During the same period in the prior year, the business posted $1.08 earnings per share. Analysts anticipate that Atmos Energy Corporation will post 7.18 earnings per share for the current year.

Atmos Energy Dividend Announcement

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

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.