Procyon Advisors LLC Increases Stock Position in Atmos Energy Co. (NYSE:ATO)

Procyon Advisors LLC raised its position in Atmos Energy Co. (NYSE:ATO - Free Report) by 78.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,391 shares of the utilities provider's stock after buying an additional 3,690 shares during the period. Procyon Advisors LLC's holdings in Atmos Energy were worth $1,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in shares of Atmos Energy during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in Atmos Energy by 72.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider's stock worth $34,000 after acquiring an additional 103 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Atmos Energy during the fourth quarter valued at $37,000. South Plains Financial Inc. acquired a new position in shares of Atmos Energy during the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc raised its position in shares of Atmos Energy by 181.2% during the 1st quarter. Versant Capital Management Inc now owns 433 shares of the utilities provider's stock worth $67,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company's stock.

Atmos Energy Stock Performance

Atmos Energy stock opened at $152.23 on Friday. The firm has a 50 day simple moving average of $155.72 and a 200-day simple moving average of $148.76. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.94 and a beta of 0.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.56 and a quick ratio of 1.43. Atmos Energy Co. has a 1-year low of $113.46 and a 1-year high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $2.85 earnings per share. The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. On average, analysts expect that Atmos Energy Co. will post 7.18 EPS for the current year.

Atmos Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, May 27th. Atmos Energy's dividend payout ratio (DPR) is presently 48.33%.

Insider Buying and Selling at Atmos Energy

In related news, Director Kim R. Cocklin sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $150.98, for a total transaction of $2,264,700.00. Following the completion of the transaction, the director now owns 172,632 shares of the company's stock, valued at approximately $26,063,979.36. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

ATO has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Atmos Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Wolfe Research assumed coverage on Atmos Energy in a research note on Monday, March 31st. They issued a "peer perform" rating for the company. LADENBURG THALM/SH SH upgraded Atmos Energy to a "strong-buy" rating in a report on Friday, May 9th. Morgan Stanley lowered their target price on shares of Atmos Energy from $160.00 to $159.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Finally, Argus upgraded shares of Atmos Energy to a "strong-buy" rating in a research report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.35.

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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