Atmos Energy (NYSE:ATO) Given New $156.00 Price Target at Morgan Stanley

Atmos Energy (NYSE:ATO) had its price target reduced by Morgan Stanley from $159.00 to $156.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on ATO. LADENBURG THALM/SH SH upgraded Atmos Energy to a “strong-buy” rating in a research note on Friday, May 9th. Argus upgraded Atmos Energy to a “strong-buy” rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price objective on Atmos Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Wolfe Research started coverage on shares of Atmos Energy in a research note on Monday, March 31st. They issued a “peer perform” rating on the stock. Finally, Citigroup lifted their price target on shares of Atmos Energy from $148.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Atmos Energy has a consensus rating of “Moderate Buy” and an average price target of $156.05.

Atmos Energy Stock Performance

NYSE:ATO opened at $152.23 on Wednesday. The stock has a 50-day simple moving average of $156.25 and a two-hundred day simple moving average of $148.88. Atmos Energy has a 52-week low of $113.46 and a 52-week high of $167.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.33. The firm has a market capitalization of $24.18 billion, a PE ratio of 21.14, a P/E/G ratio of 2.92 and a beta of 0.71.

Atmos Energy (NYSE:ATO) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. Atmos Energy had a return on equity of 9.05% and a net margin of 25.35%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $2.85 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts forecast that Atmos Energy will post 7.18 EPS for the current year.

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Tuesday, May 27th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, May 27th. Atmos Energy’s payout ratio is 48.33%.

Insider Buying and Selling

In other news, Director Kim R. Cocklin sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ATO. Brighton Jones LLC bought a new stake in Atmos Energy in the 4th quarter valued at about $233,000. Empowered Funds LLC increased its position in shares of Atmos Energy by 10.2% during the fourth quarter. Empowered Funds LLC now owns 2,872 shares of the utilities provider’s stock worth $400,000 after buying an additional 267 shares during the period. Principal Securities Inc. increased its position in shares of Atmos Energy by 33.1% during the fourth quarter. Principal Securities Inc. now owns 1,195 shares of the utilities provider’s stock worth $166,000 after buying an additional 297 shares during the period. Allworth Financial LP grew its holdings in Atmos Energy by 32.9% in the fourth quarter. Allworth Financial LP now owns 1,318 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 326 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Atmos Energy by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 63,736 shares of the utilities provider’s stock valued at $8,862,000 after buying an additional 1,233 shares in the last quarter. 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.