Merit Financial Group LLC Boosts Position in Atmos Energy Corporation $ATO

Key Points

• Merit Financial Group LLC significantly increased its stake in Atmos Energy by 498.1% in Q2, acquiring an additional 22,982 shares, bringing total holdings to 27,596 shares valued at approximately $4.25 million.
• Atmos Energy announced a quarterly dividend of $0.87 per share, resulting in an annualized dividend of $3.48, yielding 2.0%, with a payout ratio of 47.80%.
• Recent analyst ratings for Atmos Energy show mixed results, with target prices ranging from $153.00 to $167.00, reflecting a consensus rating of "Moderate Buy" with a price target of $162.50.

Merit Financial Group LLC boosted its position in Atmos Energy Corporation (NYSE:ATO - Free Report) by 498.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,596 shares of the utilities provider's stock after purchasing an additional 22,982 shares during the period. Merit Financial Group LLC's holdings in Atmos Energy were worth $4,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ATO. First Horizon Advisors Inc. boosted its holdings 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 worth $26,000 after buying an additional 109 shares during the last quarter. Brooklyn Investment Group raised its position in 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. ST Germain D J Co. Inc. boosted its stake in shares of Atmos Energy by 50.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider's stock worth $46,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC grew 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 valued at $51,000 after acquiring an additional 262 shares during the period. Finally, Bank of New Hampshire purchased a new stake in shares of Atmos Energy in the 1st quarter worth $58,000. Hedge funds and other institutional investors own 90.17% of the company's stock.

Atmos Energy Stock Up 1.8%

NYSE ATO opened at $173.30 on Tuesday. Atmos Energy Corporation has a 12 month low of $136.05 and a 12 month high of $173.55. The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67. The stock has a market cap of $27.82 billion, a PE ratio of 23.80, a P/E/G ratio of 2.96 and a beta of 0.74. The stock's 50 day moving average is $164.75 and its 200 day moving average is $158.28.

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 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 analysts' expectations of $848.97 million. During the same period last year, the business earned $1.08 earnings per share. Research analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, August 25th. Atmos Energy's dividend payout ratio is 47.80%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays lowered their target price 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. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and set a $163.00 price objective (down from $171.00) on shares of Atmos Energy in a research report on Friday, August 8th. Morgan Stanley increased their target price on shares of Atmos Energy from $162.00 to $167.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Weiss Ratings restated a "buy (b+)" rating on shares of Atmos Energy in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Atmos Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Atmos Energy has an average rating of "Moderate Buy" and a consensus price target of $162.50.

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.

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