The Manufacturers Life Insurance Company Has $16.18 Million Stock Position in Atmos Energy Corporation $ATO

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Atmos Energy by 16.1%, owning approximately 0.07% of the company after selling 20,160 shares in the first quarter.
• Atmos Energy recently reported earnings of $1.16 per share, which was $0.01 below analysts' estimates, alongside revenue of $838.77 million, missing expectations.
• A quarterly dividend of $0.87 per share has been declared, representing a yield of 2.1%, with a payout ratio of 47.80%.

The Manufacturers Life Insurance Company lowered its stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,679 shares of the utilities provider's stock after selling 20,160 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Atmos Energy worth $16,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ATO. SouthState Corp lifted its holdings in Atmos Energy by 4.9% in the 1st quarter. SouthState Corp now owns 1,447 shares of the utilities provider's stock valued at $224,000 after purchasing an additional 67 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Atmos Energy by 3.8% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,871 shares of the utilities provider's stock valued at $289,000 after acquiring an additional 68 shares in the last quarter. Private Trust Co. NA grew its position in Atmos Energy by 26.0% in the 1st quarter. Private Trust Co. NA now owns 378 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 78 shares in the last quarter. Smith Shellnut Wilson LLC ADV boosted its stake in shares of Atmos Energy by 4.3% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 1,968 shares of the utilities provider's stock valued at $304,000 after buying an additional 81 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in shares of Atmos Energy by 0.7% in the 1st quarter. D.A. Davidson & CO. now owns 11,029 shares of the utilities provider's stock valued at $1,705,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 90.17% of the company's stock.

Atmos Energy Trading Up 0.2%

NYSE ATO traded up $0.39 during trading hours on Tuesday, hitting $164.26. 101,916 shares of the company's stock were exchanged, compared to its average volume of 964,793. The business's 50 day moving average is $160.06 and its 200-day moving average is $155.93. Atmos Energy Corporation has a 12-month low of $132.58 and a 12-month high of $168.86. The firm has a market capitalization of $26.37 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.37.

Atmos Energy (NYSE:ATO - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). The business had revenue of $838.77 million for the quarter, compared to analysts' expectations of $848.97 million. Atmos Energy had a return on equity of 9.00% and a net margin of 25.05%.During the same quarter last year, the company posted $1.08 earnings per share. As a group, analysts anticipate that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. Atmos Energy's payout ratio is 47.80%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATO. Barclays decreased their target price on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Argus upgraded Atmos Energy to a "strong-buy" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. UBS Group reiterated a "neutral" rating and issued a $159.00 price objective (up previously from $146.00) on shares of Atmos Energy in a research note on Wednesday, July 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Atmos Energy in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.27.

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.