Mattern Capital Management LLC Lowers Stock Holdings in Atmos Energy Corporation (NYSE:ATO)

Mattern Capital Management LLC lowered its holdings in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,491 shares of the utilities provider's stock after selling 3,500 shares during the quarter. Atmos Energy makes up 1.2% of Mattern Capital Management LLC's holdings, making the stock its 28th largest position. Mattern Capital Management LLC's holdings in Atmos Energy were worth $9,505,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Noble Wealth Management PBC purchased a new position in Atmos Energy during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its position in Atmos Energy by 72.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider's stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Atmos Energy during the fourth quarter worth approximately $37,000. South Plains Financial Inc. purchased a new position in Atmos Energy during the fourth quarter worth approximately $51,000. Finally, Bank of New Hampshire purchased a new position in Atmos Energy during the first quarter worth approximately $58,000. Hedge funds and other institutional investors own 90.17% of the company's stock.

Insiders Place Their Bets

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $150.98, for a total transaction of $2,264,700.00. Following the completion of the sale, the director now owns 172,632 shares of the company's stock, valued at $26,063,979.36. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Atmos Energy Stock Performance

Shares of Atmos Energy stock opened at $156.53 on Wednesday. Atmos Energy Corporation has a one year low of $113.46 and a one year high of $167.45. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.33. The business's 50 day moving average price is $156.38 and its 200 day moving average price is $149.18.

Atmos Energy (NYSE:ATO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.82 billion. Atmos Energy had a return on equity of 9.05% and a net margin of 25.35%. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.85 earnings per share. On average, research analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current year.

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $3.48 annualized dividend and a yield of 2.22%. Atmos Energy's dividend payout ratio (DPR) is 48.33%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley set a $156.00 price target on Atmos Energy and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Mizuho downgraded Atmos Energy from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $165.00 to $164.00 in a research report on Monday, April 28th. Argus upgraded Atmos Energy to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, Wolfe Research started coverage on Atmos Energy in a research report on Monday, March 31st. They issued a "peer perform" rating on the stock. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.05.

Atmos Energy Company 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.

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