Atmos Energy (NYSE:ATO) Upgraded to “Buy” at Argus

Argus upgraded shares of Atmos Energy (NYSE:ATO) from a hold rating to a buy rating in a research report released on Friday, MarketBeat.com reports. The brokerage currently has $150.00 price target on the utilities provider’s stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group began coverage on Atmos Energy in a research report on Wednesday, October 2nd. They set a “hold” rating and a $155.00 price objective for the company. LADENBURG THALM/SH SH raised their price target on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Mizuho lifted their price objective on shares of Atmos Energy from $148.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Bank of America began coverage on shares of Atmos Energy in a report on Friday, December 13th. They set a “buy” rating and a $156.00 target price for the company. Finally, Barclays lifted their price target on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.75.

Atmos Energy Trading Up 1.2 %

ATO opened at $139.69 on Friday. The firm’s fifty day simple moving average is $143.40 and its 200 day simple moving average is $132.85. The stock has a market capitalization of $21.71 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.80 and a beta of 0.70. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.65. Atmos Energy has a 12 month low of $110.46 and a 12 month high of $152.65.

Atmos Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Monday, November 25th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s payout ratio is 50.66%.

Insider Activity

In related news, Director Edward Geiser purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the purchase, the director now owns 2,602 shares in the company, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

A number of large investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Atmos Energy by 4.8% during the second quarter. Fifth Third Bancorp now owns 3,698 shares of the utilities provider’s stock worth $431,000 after buying an additional 170 shares in the last quarter. &PARTNERS boosted its holdings in Atmos Energy by 14.6% in the 2nd quarter. &PARTNERS now owns 6,388 shares of the utilities provider’s stock valued at $745,000 after purchasing an additional 815 shares during the period. LRI Investments LLC grew its position in shares of Atmos Energy by 1,558.7% during the 2nd quarter. LRI Investments LLC now owns 1,725 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 1,621 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Atmos Energy during the second quarter worth approximately $385,000. Finally, State of Michigan Retirement System raised its position in shares of Atmos Energy by 6.2% in the second quarter. State of Michigan Retirement System now owns 51,710 shares of the utilities provider’s stock valued at $6,032,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 90.17% of the company’s stock.

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.