Atmos Energy Corporation $ATO Shares Sold by Legacy Financial Strategies LLC

Key Points

• Legacy Financial Strategies LLC reduced its stake in Atmos Energy Corporation by 9.7%, selling 2,258 shares to hold a total of 20,989 shares valued at approximately $3.24 million.
• Atmos Energy recently announced a quarterly dividend of $0.87 per share, which reflects an annualized dividend yield of 2.1% and a payout ratio of 47.80%.
• Despite missing earnings estimates, Atmos Energy's stock currently has a consensus rating of "Moderate Buy" with a target price averaging around $160.27 from analysts.

Legacy Financial Strategies LLC cut its position in Atmos Energy Corporation (NYSE:ATO - Free Report) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,989 shares of the utilities provider's stock after selling 2,258 shares during the quarter. Legacy Financial Strategies LLC's holdings in Atmos Energy were worth $3,235,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATO. First Horizon Advisors Inc. lifted its position 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 acquiring an additional 109 shares during the period. Brooklyn Investment Group lifted its position in shares of Atmos Energy by 141.2% during the 1st quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider's stock worth $36,000 after buying an additional 137 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Atmos Energy by 379.7% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the utilities provider's stock worth $51,000 after buying an additional 262 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Atmos Energy during the 1st quarter worth $58,000. Finally, Private Trust Co. NA lifted its position 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 last quarter. 90.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ATO shares. LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $163.00 target price (down from $171.00) on shares of Atmos Energy in a research report on Friday, August 8th. Barclays cut their price target on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. UBS Group reiterated a "neutral" rating and set a $159.00 price target (up from $146.00) on shares of Atmos Energy in a report on Wednesday, July 30th. Finally, Argus set a $172.00 price target on Atmos Energy in a report on Thursday. One research 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's stock. According to data from MarketBeat.com, Atmos Energy presently has an average rating of "Moderate Buy" and an average target price of $160.27.

Atmos Energy Stock Performance

Shares of ATO traded up $1.20 during trading hours on Tuesday, reaching $164.16. 93,928 shares of the company traded hands, compared to its average volume of 959,917. The stock has a market capitalization of $26.35 billion, a P/E ratio of 22.55, a P/E/G ratio of 3.01 and a beta of 0.75. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. Atmos Energy Corporation has a 12-month low of $136.03 and a 12-month high of $168.86. The business has a fifty day moving average price of $162.26 and a 200-day moving average price of $156.92.

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 for the quarter, missing analysts' consensus estimates of $1.17 by ($0.01). The company had revenue of $838.77 million for 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 period last year, the firm earned $1.08 earnings per share. Equities analysts anticipate that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a dividend of $0.87 per share. The ex-dividend date was Monday, August 25th. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Atmos Energy's payout ratio is currently 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.