W.H. Cornerstone Investments Inc. Invests $1.01 Million in Atmos Energy Corporation (NYSE:ATO)

Key Points

• W.H. Cornerstone Investments Inc. has acquired a new stake in Atmos Energy Corporation, purchasing 6,532 shares valued at approximately $1,010,000.
• Atmos Energy reported earnings of $3.03 per share for the quarter, exceeding expectations, with revenue of $1.95 billion, an 18.4% increase year-over-year.
• The company announced a quarterly dividend of $0.87 per share, providing a dividend yield of 2.2% for investors.

W.H. Cornerstone Investments Inc. bought a new position in Atmos Energy Corporation (NYSE:ATO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,532 shares of the utilities provider's stock, valued at approximately $1,010,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Atmos Energy during the fourth quarter valued at approximately $233,000. Orion Portfolio Solutions LLC raised its holdings in Atmos Energy by 17.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,880 shares of the utilities provider's stock worth $680,000 after purchasing an additional 728 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings 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 in the last quarter. Franklin Resources Inc. increased its position in shares of Atmos Energy by 69.9% during the fourth quarter. Franklin Resources Inc. now owns 35,965 shares of the utilities provider's stock valued at $5,009,000 after buying an additional 14,794 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Atmos Energy during the fourth quarter valued at about $1,607,000. Institutional investors own 90.17% of the company's stock.

Insider Buying and Selling

In other Atmos Energy news, Director Kim R. Cocklin sold 15,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.48% of the company's stock.

Atmos Energy Stock Performance

NYSE:ATO traded down $2.75 during mid-day trading on Tuesday, reaching $156.70. The company's stock had a trading volume of 863,190 shares, compared to its average volume of 667,129. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65. The stock has a market cap of $24.89 billion, a P/E ratio of 21.76, a PEG ratio of 3.00 and a beta of 0.69. The firm's fifty day moving average price is $154.36 and its two-hundred day moving average price is $152.36. Atmos Energy Corporation has a 12-month low of $126.08 and a 12-month high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last released 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. Atmos Energy had a net margin of 25.35% and a return on equity of 9.05%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the company earned $2.85 earnings per share. The firm's quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts forecast 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, June 9th. Investors of record on Tuesday, May 27th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, May 27th. Atmos Energy's dividend payout ratio (DPR) is currently 48.33%.

Analysts Set New Price Targets

Several analysts have weighed in on ATO shares. Mizuho cut Atmos Energy from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $165.00 to $164.00 in a research report 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. Barclays decreased their price objective on Atmos Energy from $156.00 to $153.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Argus upgraded shares of Atmos Energy to a "strong-buy" rating in a report on Wednesday, May 28th. Finally, UBS Group reiterated a "neutral" rating and issued a $159.00 price target (up from $146.00) on shares of Atmos Energy in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.14.

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.