Mitsubishi UFJ Asset Management Co. Ltd. Buys 23,722 Shares of Atmos Energy Corporation (NYSE:ATO)

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Atmos Energy Corporation by 8.1%, acquiring an additional 23,722 shares, bringing its total to 317,670 shares worth approximately $49.1 million.
• The company's stock has a consensus rating of "Hold" among analysts, with a projected target price of $158.27, and it recently reported missed earnings forecasts in its last quarter.
• Atmos Energy announced a quarterly dividend of $0.87 per share with an ex-dividend date of August 25, 2023, representing a 2.1% dividend yield based on an annualized payout of $3.48.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 317,670 shares of the utilities provider's stock after buying an additional 23,722 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Atmos Energy worth $49,105,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System raised its stake in Atmos Energy by 4.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 141,849 shares of the utilities provider's stock valued at $21,927,000 after acquiring an additional 5,476 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Atmos Energy by 3.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 950,573 shares of the utilities provider's stock valued at $146,940,000 after acquiring an additional 34,878 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Atmos Energy during the first quarter valued at approximately $1,529,000. Vanguard Group Inc. raised its holdings in shares of Atmos Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 20,791,335 shares of the utilities provider's stock valued at $3,213,925,000 after acquiring an additional 424,235 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its holdings in shares of Atmos Energy by 6.6% during the first quarter. Reaves W H & Co. Inc. now owns 658,135 shares of the utilities provider's stock valued at $101,735,000 after acquiring an additional 40,461 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company's stock.

Atmos Energy Stock Performance

Shares of ATO stock traded down $0.62 during trading hours on Thursday, reaching $166.37. 271,021 shares of the company's stock were exchanged, compared to its average volume of 977,520. The company has a market cap of $26.71 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 3.06 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.37 and a quick ratio of 1.25. The company's 50 day moving average is $155.51 and its two-hundred day moving average is $153.17. Atmos Energy Corporation has a 1 year low of $127.43 and a 1 year high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last released its quarterly earnings data 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 company 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 period last year, the business earned $1.08 earnings per share. Equities research analysts anticipate that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a $0.87 dividend. The ex-dividend date is Monday, August 25th. This represents a $3.48 annualized dividend and a yield of 2.1%. Atmos Energy's payout ratio is 47.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ATO shares. UBS Group restated a "neutral" rating and set a $159.00 target price (up previously from $146.00) on shares of Atmos Energy in a report on Wednesday, July 30th. LADENBURG THALM/SH SH reiterated a "neutral" rating and issued a $163.00 price objective (down previously from $171.00) on shares of Atmos Energy in a report on Friday, August 8th. Citigroup increased their price objective on Atmos Energy from $148.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Morgan Stanley set a $156.00 price objective on Atmos Energy and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Finally, Mizuho cut Atmos Energy from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $165.00 to $164.00 in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $158.27.

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.