Atmos Energy (NYSE:ATO) Now Covered by Bank of America

Bank of America assumed coverage on shares of Atmos Energy (NYSE:ATO) in a research note released on Friday. The firm issued a buy rating and a $156.00 price objective on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays raised their price target on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho boosted their price target on Atmos Energy from $148.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com raised Atmos Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, LADENBURG THALM/SH SH raised their price target on Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Atmos Energy currently has an average rating of “Moderate Buy” and a consensus target price of $148.61.

Atmos Energy Stock Performance

NYSE:ATO opened at $140.58 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.80 and a current ratio of 0.94. Atmos Energy has a fifty-two week low of $110.46 and a fifty-two week high of $152.65. The firm has a market cap of $21.85 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.80 and a beta of 0.70. The business has a 50 day moving average price of $143.31 and a 200-day moving average price of $132.00.

Atmos Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.87 dividend. The ex-dividend date was Monday, November 25th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.48%. Atmos Energy’s dividend payout ratio is currently 50.66%.

Insider Buying and Selling at Atmos Energy

In other news, Director Edward Geiser bought 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $144.89 per share, with a total value of $362,225.00. Following the completion of the acquisition, the director now owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co grew its stake in shares of Atmos Energy by 52.5% in the second quarter. Diversified Trust Co now owns 3,003 shares of the utilities provider’s stock worth $350,000 after acquiring an additional 1,034 shares during the period. Swedbank AB raised its stake in Atmos Energy by 565.3% during the 2nd quarter. Swedbank AB now owns 40,621 shares of the utilities provider’s stock valued at $4,738,000 after buying an additional 34,515 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Atmos Energy by 1,106.1% during the 2nd quarter. Blue Trust Inc. now owns 3,570 shares of the utilities provider’s stock valued at $424,000 after buying an additional 3,274 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Atmos Energy by 3.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,721 shares of the utilities provider’s stock worth $48,960,000 after buying an additional 14,440 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Atmos Energy by 38.6% in the second quarter. Boston Trust Walden Corp now owns 354,666 shares of the utilities provider’s stock worth $41,372,000 after acquiring an additional 98,778 shares during the period. 90.17% of the stock is owned by 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.