Harbour Capital Advisors LLC Takes Position in Atmos Energy Corporation $ATO

Key Points

• Harbour Capital Advisors LLC has acquired a new position in Atmos Energy Corporation (NYSE: ATO), purchasing 2,010 shares valued at approximately $305,000 in the second quarter.
• Atmos Energy reported earnings of $1.16 per share for the last quarter but missed analysts' expectations by $0.01, with total revenue falling below estimates at $838.77 million.
• The company recently declared a quarterly dividend of $0.87, representing an annualized dividend of $3.48 and a yield of 2.1%.

Harbour Capital Advisors LLC purchased a new stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,010 shares of the utilities provider's stock, valued at approximately $305,000.

Other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of 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 purchasing an additional 109 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of 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 purchasing an additional 137 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in 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 acquiring an additional 262 shares in the last quarter. Bank of New Hampshire acquired a new stake in Atmos Energy in the first quarter valued at $58,000. Finally, Private Trust Co. NA raised its holdings in 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 acquiring an additional 78 shares in the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ATO shares. Barclays cut their price target on shares of Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. UBS Group reiterated a "neutral" rating and set a $159.00 target price (up previously 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 set a $163.00 target price (down previously from $171.00) on shares of Atmos Energy in a research note on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating on shares of Atmos Energy in a research note on Thursday, August 21st. Finally, Argus set a $172.00 price target on shares of Atmos Energy in a research report on Thursday. One research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.27.

Atmos Energy Stock Performance

Shares of Atmos Energy stock traded up $2.50 during midday trading on Tuesday, hitting $165.46. The company had a trading volume of 222,152 shares, compared to its average volume of 960,596. The business's 50 day simple moving average is $162.26 and its two-hundred day simple moving average is $156.92. The stock has a market cap of $26.56 billion, a PE ratio of 22.72, a P/E/G ratio of 3.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.37 and a quick ratio of 1.25. Atmos Energy Corporation has a 1-year low of $136.03 and a 1-year 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). The company 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 posted $1.08 EPS. As a group, equities analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

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

Atmos Energy 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.