Atmos Energy (NYSE:ATO) Announces Earnings Results, Beats Expectations By $0.03 EPS

Atmos Energy (NYSE:ATO) posted its quarterly earnings data on Wednesday. The utilities provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03, Briefing.com reports. The business had revenue of $701.55 million during the quarter, compared to the consensus estimate of $924.75 million. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. During the same period in the prior year, the business posted $0.94 earnings per share. Atmos Energy updated its FY24 guidance to $6.70-6.80 EPS and its FY 2024 guidance to 6.800-6.800 EPS.

Atmos Energy Stock Up 0.9 %

NYSE ATO traded up $1.10 during trading hours on Friday, hitting $128.05. The company’s stock had a trading volume of 674,460 shares, compared to its average volume of 915,837. Atmos Energy has a 52 week low of $101.00 and a 52 week high of $132.24. The company has a market capitalization of $19.32 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67. The company has a current ratio of 1.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company’s 50-day simple moving average is $119.93 and its two-hundred day simple moving average is $117.00.

Atmos Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a $0.805 dividend. The ex-dividend date is Monday, August 26th. This represents a $3.22 annualized dividend and a yield of 2.51%. Atmos Energy’s payout ratio is 48.28%.

Insider Activity at Atmos Energy

In related news, Director Diana J. Walters sold 400 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $118.00, for a total value of $47,200.00. Following the transaction, the director now owns 3,551 shares of the company’s stock, valued at approximately $419,018. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATO. UBS Group began coverage on shares of Atmos Energy in a research report on Friday, April 12th. They set a “neutral” rating and a $124.00 price target on the stock. Mizuho upped their price target on shares of Atmos Energy from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Morgan Stanley cut their price target on shares of Atmos Energy from $122.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Wells Fargo & Company upped their price target on shares of Atmos Energy from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays upped their price target on shares of Atmos Energy from $121.00 to $129.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.

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.