Hsbc Holdings PLC Sells 134,378 Shares of Atmos Energy Corporation $ATO

Key Points

• Hsbc Holdings PLC has reduced its stake in Atmos Energy Corporation by 24.3%, selling 134,378 shares and retaining 417,847 shares valued at approximately $64.5 million.
• Several institutional investors have increased their holdings in Atmos Energy, with BNP Paribas Financial Markets boosting its stake by 541.4% to over 1.5 million shares.
• Atmos Energy reported a quarterly earnings miss, posting $1.16 EPS against an estimate of $1.17, alongside a quarterly dividend of $0.87 per share scheduled for September 8th.

Hsbc Holdings PLC trimmed its position in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 24.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,847 shares of the utilities provider's stock after selling 134,378 shares during the quarter. Hsbc Holdings PLC owned 0.26% of Atmos Energy worth $64,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. raised its holdings in shares of Atmos Energy by 191.2% during the 1st 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 in the last quarter. Brooklyn Investment Group boosted 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 worth $36,000 after acquiring an additional 137 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Atmos Energy in the fourth quarter worth about $37,000. South Plains Financial Inc. purchased a new stake in shares of Atmos Energy in the fourth quarter worth approximately $51,000. Finally, Golden State Wealth Management LLC boosted its position in Atmos Energy by 379.7% during the 1st 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. Institutional investors own 90.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ATO shares. Citigroup lifted their price objective on Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays cut their price objective on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Wall Street Zen raised Atmos Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. LADENBURG THALM/SH SH reaffirmed 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. Finally, Argus raised Atmos Energy to a "strong-buy" rating in a report on Wednesday, May 28th. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.27.

Atmos Energy Stock Performance

NYSE ATO traded down $0.39 on Wednesday, hitting $165.62. The stock had a trading volume of 139,352 shares, compared to its average volume of 970,759. Atmos Energy Corporation has a one year low of $128.12 and a one year high of $168.86. 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 stock has a market cap of $26.59 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 3.06 and a beta of 0.69. The company's 50-day moving average is $157.92 and its two-hundred day moving average is $154.70.

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

Atmos Energy Announces Dividend

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