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

Atmos Energy (NYSE:ATO - Get Free Report) had its price target reduced by stock analysts at Morgan Stanley from $159.00 to $156.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's target price indicates a potential upside of 2.09% from the stock's previous close.

Other research analysts have also recently issued reports about the company. LADENBURG THALM/SH SH upgraded Atmos Energy to a "strong-buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Atmos Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Mizuho cut shares of Atmos Energy from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $165.00 to $164.00 in a research note on Monday, April 28th. Wall Street Zen upgraded Atmos Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Citigroup upped their price target on Atmos Energy from $148.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.05.

Atmos Energy Price Performance

Shares of Atmos Energy stock traded up $0.50 during mid-day trading on Wednesday, reaching $152.80. 129,958 shares of the stock traded hands, compared to its average volume of 921,435. The company has a quick ratio of 1.25, a current ratio of 1.33 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $156.18 and a 200 day moving average of $148.86. The stock has a market capitalization of $24.27 billion, a PE ratio of 21.21, a PEG ratio of 2.92 and a beta of 0.71. Atmos Energy has a fifty-two week low of $113.46 and a fifty-two week high of $167.45.

Atmos Energy (NYSE:ATO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.82 billion. Atmos Energy had a return on equity of 9.05% and a net margin of 25.35%. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 EPS. On average, analysts predict that Atmos Energy will post 7.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kim R. Cocklin sold 15,000 shares of the company'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 approximately $26,063,979.36. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.

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