Merewether Investment Management LP Buys Shares of 343,343 Atmos Energy Co. (NYSE:ATO)

Merewether Investment Management LP bought a new stake in Atmos Energy Co. (NYSE:ATO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 343,343 shares of the utilities provider's stock, valued at approximately $47,817,000. Atmos Energy comprises 1.9% of Merewether Investment Management LP's portfolio, making the stock its 19th largest position. Merewether Investment Management LP owned about 0.22% of Atmos Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Atmos Energy by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 20,367,100 shares of the utilities provider's stock valued at $2,836,526,000 after acquiring an additional 282,156 shares during the last quarter. Capital International Investors boosted its stake in shares of 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. Geode Capital Management LLC grew its holdings in shares of Atmos Energy by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,806,449 shares of the utilities provider's stock worth $528,760,000 after purchasing an additional 107,700 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Atmos Energy by 7.8% during the fourth quarter. Invesco Ltd. now owns 3,107,267 shares of the utilities provider's stock worth $432,749,000 after purchasing an additional 223,809 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Atmos Energy by 1.9% during the fourth quarter. Deutsche Bank AG now owns 3,078,424 shares of the utilities provider's stock worth $428,732,000 after purchasing an additional 58,391 shares during the last quarter. Institutional investors own 90.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho cut Atmos Energy from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $165.00 to $164.00 in a report on Monday, April 28th. Wolfe Research assumed coverage on Atmos Energy in a report on Monday, March 31st. They set a "peer perform" rating on the stock. LADENBURG THALM/SH SH upgraded Atmos Energy to a "strong-buy" rating in a report on Friday. StockNews.com upgraded Atmos Energy from a "sell" rating to a "hold" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Atmos Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Atmos Energy presently has an average rating of "Moderate Buy" and a consensus target price of $154.28.

Atmos Energy Price Performance

Shares of ATO opened at $155.18 on Tuesday. Atmos Energy Co. has a 52-week low of $110.97 and a 52-week high of $167.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.56. The business's 50 day moving average price is $153.75 and its two-hundred day moving average price is $147.13. The firm has a market cap of $24.65 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $2.85 earnings per share. The company's revenue was up 18.4% compared to the same quarter last year. On average, equities analysts anticipate that Atmos Energy Co. will post 7.18 EPS for the current year.

Atmos Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.87 per share. The ex-dividend date is Tuesday, May 27th. This represents a $3.48 annualized dividend and a dividend yield of 2.24%. Atmos Energy's dividend payout ratio 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.

Want to see what other hedge funds are holding ATO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atmos Energy Co. (NYSE:ATO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.