Morgan Stanley Issues Pessimistic Forecast for Atmos Energy (NYSE:ATO) Stock Price

Atmos Energy (NYSE:ATO - Get Free Report) had its price target lowered by stock analysts at Morgan Stanley from $160.00 to $159.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective would indicate a potential upside of 1.68% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Wall Street Zen raised Atmos Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Wolfe Research began coverage on shares of Atmos Energy in a report on Monday, March 31st. They issued a "peer perform" rating on the stock. Mizuho downgraded shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of Atmos Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Finally, Citigroup boosted their target price 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. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atmos Energy has a consensus rating of "Moderate Buy" and an average price target of $156.35.

Atmos Energy Stock Down 0.0%

Shares of NYSE ATO traded down $0.04 during trading on Thursday, hitting $156.37. The stock had a trading volume of 264,184 shares, compared to its average volume of 1,036,260. The firm has a fifty day moving average of $155.23 and a two-hundred day moving average of $148.29. The company has a market capitalization of $24.84 billion, a PE ratio of 22.28, a PEG ratio of 2.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.56 and a quick ratio of 1.43. Atmos Energy has a 12 month low of $110.97 and a 12 month high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. Atmos Energy had a net margin of 25.90% and a return on equity of 8.89%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $2.85 EPS. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that Atmos Energy will post 7.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Kim R. Cocklin sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $150.98, for a total transaction of $2,264,700.00. Following the sale, the director now owns 172,632 shares of the company's stock, valued at approximately $26,063,979.36. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATO. First Horizon Advisors Inc. raised its position in shares of Atmos Energy by 191.2% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider's stock worth $26,000 after buying an additional 109 shares in the last quarter. Noble Wealth Management PBC bought a new position in Atmos Energy in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC boosted 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 last quarter. Brooklyn Investment Group boosted its position in shares of Atmos Energy by 141.2% during the 1st quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 137 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Atmos Energy during the fourth quarter worth about $37,000. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

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.