Exchange Traded Concepts LLC Sells 11,686 Shares of Atmos Energy Corporation $ATO

Key Points

• Exchange Traded Concepts LLC reduced its stake in Atmos Energy Corporation (NYSE:ATO) by 5.8%, now holding 190,373 shares worth approximately $29,338,000.
• Atmos Energy's recent quarterly earnings revealed a miss in EPS estimates, reporting $1.16 compared to a consensus of $1.17 and revenues of $838.77 million against expectations of $848.97 million.
• The company declared a quarterly dividend of $0.87 per share, with a current annualized dividend yield of 2.1%.

Exchange Traded Concepts LLC decreased its stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,373 shares of the utilities provider's stock after selling 11,686 shares during the period. Exchange Traded Concepts LLC owned about 0.12% of Atmos Energy worth $29,338,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of 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 buying an additional 109 shares during the period. Brooklyn Investment Group raised its stake in shares of Atmos Energy by 141.2% in the first quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider's stock valued at $36,000 after buying an additional 137 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Atmos Energy by 379.7% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the utilities provider's stock valued at $51,000 after buying an additional 262 shares during the period. Bank of New Hampshire bought a new stake in shares of Atmos Energy in the first quarter valued at $58,000. Finally, Private Trust Co. NA raised its stake in shares of Atmos Energy by 26.0% in the first quarter. Private Trust Co. NA now owns 378 shares of the utilities provider's stock valued at $58,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 90.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ATO shares. UBS Group restated a "neutral" rating and issued a $159.00 target price (up from $146.00) on shares of Atmos Energy in a research note on Wednesday, July 30th. LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $163.00 price objective (down from $171.00) on shares of Atmos Energy in a report on Friday, August 8th. Argus set a $172.00 price objective on Atmos Energy in a report on Thursday. Barclays cut 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, July 10th. Finally, Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.27.

Atmos Energy Stock Up 0.2%

ATO stock traded up $0.25 on Monday, reaching $163.18. 246,403 shares of the company traded hands, compared to its average volume of 961,707. Atmos Energy Corporation has a one year low of $136.03 and a one year high of $168.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.37 and a quick ratio of 1.25. The company has a market cap of $26.19 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. The firm has a fifty day simple moving average of $162.11 and a 200-day simple moving average of $156.82.

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

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a $0.87 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. Atmos Energy's dividend payout ratio (DPR) is presently 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.