Tyche Wealth Partners LLC Decreases Stock Holdings in Atmos Energy Corporation (NYSE:ATO)

Tyche Wealth Partners LLC reduced its stake in shares of Atmos Energy Corporation (NYSE:ATO - Free Report) by 54.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,977 shares of the utilities provider's stock after selling 5,969 shares during the period. Tyche Wealth Partners LLC's holdings in Atmos Energy were worth $769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATO. Noble Wealth Management PBC acquired a new stake in shares of Atmos Energy during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its position in shares of Atmos Energy by 72.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 245 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 103 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Atmos Energy during the 4th quarter valued at about $37,000. South Plains Financial Inc. acquired a new stake in shares of Atmos Energy during the 4th quarter valued at about $51,000. Finally, Golden State Wealth Management LLC grew its position in shares of Atmos Energy by 379.7% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 262 shares during the period. 90.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. 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. Morgan Stanley set a $156.00 price target on shares of Atmos Energy and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Wolfe Research started coverage on shares of Atmos Energy in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Citigroup raised their price target on shares of Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Atmos Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Six 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.com, Atmos Energy presently has a consensus rating of "Moderate Buy" and an average target price of $156.05.

Insiders Place Their Bets

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were 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 now owns 172,632 shares in the company, valued at $26,063,979.36. The trade was 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 the SEC website. Insiders own 0.48% of the company's stock.

Atmos Energy Trading Down 0.1%

Shares of ATO stock traded down $0.14 during trading on Friday, hitting $152.78. 1,551,588 shares of the stock traded hands, compared to its average volume of 924,252. Atmos Energy Corporation has a 52-week low of $113.46 and a 52-week high of $167.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 1.25. The firm's fifty day moving average price is $156.12 and its 200-day moving average price is $149.37. The firm has a market capitalization of $24.27 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.94 and a beta of 0.71.

Atmos Energy (NYSE:ATO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.82 billion. Atmos Energy had a net margin of 25.35% and a return on equity of 9.05%. The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.85 earnings per share. As a group, research analysts forecast that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders 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 annualized dividend and a dividend yield of 2.28%. Atmos Energy's dividend payout ratio (DPR) is 48.33%.

Atmos Energy Company 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.