PNC Financial Services Group Inc. Purchases 10,386 Shares of Atmos Energy Corporation (NYSE:ATO)

Key Points

• PNC Financial Services Group Inc. increased its stake in Atmos Energy by 1.6%, owning 644,388 shares worth approximately $99.6 million after acquiring an additional 10,386 shares in the first quarter.
• A number of analysts have upgraded Atmos Energy, with ratings including a "strong buy" and "overweight," while the stock maintains a consensus target price of $157.14.
• Atmos Energy announced a quarterly dividend of $0.87 per share, yielding 2.2%, with a payout ratio of 48.33% reported as of the most recent filing.

PNC Financial Services Group Inc. raised its holdings in Atmos Energy Corporation (NYSE:ATO - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 644,388 shares of the utilities provider's stock after buying an additional 10,386 shares during the quarter. PNC Financial Services Group Inc. owned 0.41% of Atmos Energy worth $99,610,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in Atmos Energy in the 4th quarter valued at $233,000. Blair William & Co. IL grew its stake in shares of Atmos Energy by 9.8% during the 4th quarter. Blair William & Co. IL now owns 3,135 shares of the utilities provider's stock worth $437,000 after acquiring an additional 281 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Atmos Energy by 17.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,880 shares of the utilities provider's stock worth $680,000 after acquiring an additional 728 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Atmos Energy by 15.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,300 shares of the utilities provider's stock worth $1,295,000 after purchasing an additional 1,238 shares during the period. Finally, Summit Financial LLC bought a new position in Atmos Energy in the 4th quarter worth about $223,000. 90.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atmos Energy

In other news, Director Kim R. Cocklin sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was 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 owned 172,632 shares of the company's stock, valued at $26,063,979.36. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ATO shares. Argus raised shares of Atmos Energy to a "strong-buy" rating in a research note on Wednesday, May 28th. LADENBURG THALM/SH SH raised Atmos Energy to a "strong-buy" rating in a research note on Friday, May 9th. Mizuho cut Atmos Energy from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $165.00 to $164.00 in a research note on Monday, April 28th. Citigroup lifted their price target on Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised Atmos Energy from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.14.

Atmos Energy Stock Performance

Atmos Energy stock traded down $1.27 during mid-day trading on Tuesday, reaching $158.18. 83,193 shares of the stock traded hands, compared to its average volume of 962,206. The stock has a market capitalization of $25.13 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 1.25. Atmos Energy Corporation has a 12-month low of $126.08 and a 12-month high of $167.45. The business's 50-day moving average is $154.36 and its 200-day moving average is $152.33.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its quarterly 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. The business 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 business's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.85 earnings per share. As a group, sell-side analysts predict that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.2%. Atmos Energy's dividend payout ratio is 48.33%.

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.