Miracle Mile Advisors LLC Takes Position in Atmos Energy Co. (NYSE:ATO)

Miracle Mile Advisors LLC acquired a new stake in Atmos Energy Co. (NYSE:ATO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,836 shares of the utilities provider's stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATO. Vanguard Group Inc. boosted its position in shares of Atmos Energy by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 20,367,100 shares of the utilities provider's stock worth $2,836,526,000 after purchasing an additional 282,156 shares during the last quarter. Capital International Investors raised its stake in Atmos Energy by 211.8% in the 4th quarter. Capital International Investors now owns 8,160,144 shares of the utilities provider's stock valued at $1,136,463,000 after acquiring an additional 5,543,451 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Atmos Energy by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,806,449 shares of the utilities provider's stock worth $528,760,000 after acquiring an additional 107,700 shares during the period. Invesco Ltd. boosted its position in shares of Atmos Energy by 7.8% in the fourth quarter. Invesco Ltd. now owns 3,107,267 shares of the utilities provider's stock valued at $432,749,000 after acquiring an additional 223,809 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Atmos Energy by 1.9% during the fourth quarter. Deutsche Bank AG now owns 3,078,424 shares of the utilities provider's stock worth $428,732,000 after purchasing an additional 58,391 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Stock Up 1.3%

Shares of ATO traded up $1.92 on Thursday, reaching $154.39. The company's stock had a trading volume of 783,849 shares, compared to its average volume of 929,625. The company has a current ratio of 1.56, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $155.90 and a 200-day moving average of $148.85. The stock has a market capitalization of $24.52 billion, a PE ratio of 21.99, a PEG ratio of 2.94 and a beta of 0.71. Atmos Energy Co. has a twelve month low of $113.46 and a twelve month high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. Atmos Energy had a return on equity of 8.89% and a net margin of 25.90%. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the business posted $2.85 EPS. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts predict that Atmos Energy Co. will post 7.18 EPS for the current year.

Atmos Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were paid a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $3.48 annualized dividend and a yield of 2.25%. Atmos Energy's dividend payout ratio is currently 48.33%.

Insider Buying and Selling at Atmos Energy

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 shares were sold at an average price of $150.98, for a total value of $2,264,700.00. Following the completion of the transaction, the director now directly owns 172,632 shares of the company's stock, valued at $26,063,979.36. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wolfe Research initiated coverage on shares of Atmos Energy in a research report on Monday, March 31st. They set a "peer perform" rating on the stock. Argus raised Atmos Energy to a "strong-buy" rating in a report on Wednesday, May 28th. LADENBURG THALM/SH SH upgraded shares of Atmos Energy to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Six investment 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $156.35.

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.