TD Asset Management Inc Lowers Stock Holdings in Atmos Energy Corporation (NYSE:ATO)

Key Points

• TD Asset Management Inc reduced its holdings in Atmos Energy Corporation by 5.1%, with a total of $69.34 million in assets by the end of the first quarter.
• Several institutional investors increased their positions in Atmos Energy, highlighting a strong investor interest as 90.17% of the stock is owned by such entities.
• Atmos Energy recently declared a $0.87 quarterly dividend, translating to an annual yield of 2.22% with a payout ratio of 48.33%.

TD Asset Management Inc lessened its holdings in Atmos Energy Corporation (NYSE:ATO - Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 448,599 shares of the utilities provider's stock after selling 24,248 shares during the period. TD Asset Management Inc owned 0.28% of Atmos Energy worth $69,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATO. Capital International Investors raised its position in Atmos Energy by 211.8% during the fourth quarter. Capital International Investors now owns 8,160,144 shares of the utilities provider's stock valued at $1,136,463,000 after purchasing an additional 5,543,451 shares in the last quarter. Norges Bank purchased a new stake in Atmos Energy during the fourth quarter valued at about $206,538,000. BNP Paribas Financial Markets raised its position in Atmos Energy by 541.4% during the fourth quarter. BNP Paribas Financial Markets now owns 1,525,116 shares of the utilities provider's stock valued at $212,403,000 after purchasing an additional 1,287,325 shares in the last quarter. Bank of America Corp DE raised its position in Atmos Energy by 146.2% during the fourth quarter. Bank of America Corp DE now owns 1,713,421 shares of the utilities provider's stock valued at $238,628,000 after purchasing an additional 1,017,575 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Atmos Energy during the fourth quarter valued at about $47,817,000. Hedge funds and other institutional investors own 90.17% of the company's stock.

Atmos Energy Trading Up 0.0%

Shares of NYSE ATO traded up $0.05 during trading hours on Thursday, hitting $156.25. The company's stock had a trading volume of 207,740 shares, compared to its average volume of 961,736. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.33. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 2.94 and a beta of 0.70. Atmos Energy Corporation has a 12 month low of $126.08 and a 12 month high of $167.45. The business has a 50-day simple moving average of $154.33 and a 200-day simple moving average of $151.88.

Atmos Energy (NYSE:ATO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $1.95 billion for 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 revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.85 EPS. On average, analysts anticipate that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.87 per share. The ex-dividend date was Tuesday, May 27th. This represents a $3.48 annualized dividend and a yield of 2.23%. Atmos Energy's payout ratio is 48.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup raised 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. UBS Group lifted their price objective on Atmos Energy from $146.00 to $159.00 and gave the stock a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Atmos Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Mizuho downgraded Atmos Energy from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $165.00 to $164.00 in a report on Monday, April 28th. Finally, Barclays decreased their price objective on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $157.14.

Insiders Place Their Bets

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of Atmos Energy stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $150.98, for a total transaction of $2,264,700.00. Following the sale, the director directly owned 172,632 shares of the company's stock, valued at approximately $26,063,979.36. The trade was a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company's stock.

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.