Atmos Energy (NYSE:ATO) Coverage Initiated by Analysts at Bank of America

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

Several other research analysts have also commented on ATO. Mizuho boosted their price objective on shares of Atmos Energy from $148.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley reduced their price target on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on Atmos Energy in a report on Wednesday, October 2nd. They set a “hold” rating and a $155.00 price objective for the company. Wells Fargo & Company upped their target price on Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, LADENBURG THALM/SH SH increased their price target on Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.61.

Atmos Energy Stock Performance

Shares of Atmos Energy stock opened at $140.59 on Friday. The company has a market capitalization of $21.85 billion, a PE ratio of 20.46, a P/E/G ratio of 2.80 and a beta of 0.70. The company has a 50-day simple moving average of $143.31 and a two-hundred day simple moving average of $131.72. Atmos Energy has a one year low of $110.46 and a one year high of $152.65. 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 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 issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.48%. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Monday, November 25th. Atmos Energy’s dividend payout ratio is presently 50.66%.

Insider Buying and Selling at Atmos Energy

In related news, Director Edward Geiser acquired 2,500 shares of the stock in a transaction 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 transaction, the director now owns 2,602 shares in the company, valued at approximately $377,003.78. This trade represents a 2,450.98 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

Large investors have recently made changes to their positions in the company. Atria Investments Inc increased its holdings in Atmos Energy by 1.3% in the third quarter. Atria Investments Inc now owns 31,399 shares of the utilities provider’s stock valued at $4,355,000 after buying an additional 402 shares in the last quarter. Swedbank AB grew its position in shares of 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 acquiring an additional 34,515 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased 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 valued at $48,960,000 after purchasing an additional 14,440 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Atmos Energy by 52.2% during the second quarter. Public Sector Pension Investment Board now owns 25,568 shares of the utilities provider’s stock worth $2,983,000 after purchasing an additional 8,774 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Atmos Energy by 39.2% in the second quarter. Amalgamated Bank now owns 42,940 shares of the utilities provider’s stock valued at $5,009,000 after purchasing an additional 12,084 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.