Allstate Corp Invests $961,000 in Atmos Energy Corporation $ATO

Allstate Corp acquired a new position in Atmos Energy Corporation (NYSE:ATO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,628 shares of the utilities provider’s stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATO. Harel Insurance Investments & Financial Services Ltd. bought a new position in Atmos Energy in the third quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Atmos Energy by 30.4% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 279 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 65 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in Atmos Energy by 50.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 100 shares during the period. WFA of San Diego LLC bought a new position in Atmos Energy in the 2nd quarter worth $46,000. Finally, Bogart Wealth LLC lifted its position in Atmos Energy by 11,200.0% during the second quarter. Bogart Wealth LLC now owns 339 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 336 shares in the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sean Donohue sold 450 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $171.15, for a total transaction of $77,017.50. Following the sale, the director directly owned 877 shares in the company, valued at approximately $150,098.55. This represents a 33.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.43% of the company’s stock.

Atmos Energy Stock Performance

NYSE:ATO opened at $168.06 on Thursday. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.62 and a beta of 0.77. Atmos Energy Corporation has a 1 year low of $138.77 and a 1 year high of $180.65. The stock’s 50 day simple moving average is $170.17 and its two-hundred day simple moving average is $167.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.65.

Atmos Energy (NYSE:ATO) last posted its earnings results on Friday, November 14th. The utilities provider reported $1.04 earnings per share for the quarter. Atmos Energy had a net margin of 25.49% and a return on equity of 9.07%. The firm had revenue of $737.48 million during the quarter. As a group, equities analysts anticipate that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were issued a $1.00 dividend. This is a boost from Atmos Energy’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, November 24th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. Atmos Energy’s payout ratio is presently 53.40%.

Analysts Set New Price Targets

A number of analysts have commented on ATO shares. UBS Group upped their price target on Atmos Energy from $159.00 to $174.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Bank of America reissued a “neutral” rating and issued a $185.00 target price (up from $182.00) on shares of Atmos Energy in a report on Thursday, October 16th. Barclays decreased their target price on shares of Atmos Energy from $172.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Zacks Research upgraded shares of Atmos Energy to a “hold” rating in a research report on Tuesday, November 18th. Finally, TD Cowen began coverage on shares of Atmos Energy in a research note on Wednesday, October 15th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atmos Energy currently has an average rating of “Hold” and an average price target of $174.11.

Atmos Energy Company Profile

Atmos Energy Corporation (NYSE: ATO) is a U.S.-based natural-gas utility that primarily focuses on the regulated distribution of natural gas. Headquartered in Dallas, Texas, the company operates through local distribution systems to deliver natural gas to residential, commercial, industrial and electric generation customers. Atmos’s core activities include pipeline operations, gas distribution, system maintenance and reliability programs designed to ensure safe and continuous service to its customers.

The company’s services encompass gas delivery, system integrity and maintenance, storage and transmission connections, and customer-facing programs such as billing, conservation initiatives and energy-efficiency offerings.