Atmos Energy (NYSE:ATO) Announces Quarterly Earnings Results

Atmos Energy (NYSE:ATO) announced its quarterly earnings results 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. Atmos Energy had a net margin of 24.65% and a return on equity of 9.01%. The firm had revenue of $701.55 million for the quarter, compared to analyst estimates of $924.75 million. During the same quarter in the previous year, the firm 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 Performance

Shares of NYSE ATO traded up $1.10 during midday trading on Friday, hitting $128.05. 671,449 shares of the company’s stock were exchanged, compared to its average volume of 915,817. The company has a quick ratio of 1.22, a current ratio of 1.36 and a debt-to-equity ratio of 0.65. The firm 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. Atmos Energy has a 12 month low of $101.00 and a 12 month high of $132.24. The company’s 50 day moving average price is $119.93 and its 200 day moving average price is $117.00.

Atmos Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be paid 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 dividend payout ratio is 48.28%.

Insider Activity at Atmos Energy

In other Atmos Energy news, Director Diana J. Walters sold 400 shares of the company’s stock in a transaction on 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 directly owns 3,551 shares in the company, valued at $419,018. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATO. Morgan Stanley cut their price objective 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 increased their price objective on Atmos Energy from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded Atmos Energy from a “sell” rating to a “hold” rating in a research note on Monday. UBS Group initiated coverage on shares of Atmos Energy in a research note on Friday, April 12th. They set a “neutral” rating and a $124.00 price objective for the company. Finally, Barclays lifted their target price on 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atmos Energy presently has a consensus rating of “Moderate Buy” and a consensus price target 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.