Summit Global Investments Takes $714,000 Position in Atmos Energy Co. (NYSE:ATO)

Summit Global Investments bought a new stake in Atmos Energy Co. (NYSE:ATO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,119 shares of the utilities provider’s stock, valued at approximately $714,000.

A number of other hedge funds have also modified their holdings of the business. TIAA Trust National Association increased its stake in Atmos Energy by 2.9% in the 1st quarter. TIAA Trust National Association now owns 3,612 shares of the utilities provider’s stock valued at $429,000 after buying an additional 103 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in shares of Atmos Energy by 0.4% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 24,285 shares of the utilities provider’s stock worth $2,887,000 after purchasing an additional 105 shares in the last quarter. Thomasville National Bank increased its position in shares of Atmos Energy by 0.9% during the 1st quarter. Thomasville National Bank now owns 12,767 shares of the utilities provider’s stock worth $1,518,000 after purchasing an additional 109 shares in the last quarter. Bfsg LLC increased its position in Atmos Energy by 1.0% in the 4th quarter. Bfsg LLC now owns 11,220 shares of the utilities provider’s stock valued at $1,300,000 after acquiring an additional 110 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in Atmos Energy by 3.7% in the 1st quarter. Park Avenue Securities LLC now owns 3,049 shares of the utilities provider’s stock valued at $362,000 after acquiring an additional 110 shares in the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Atmos Energy from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Mizuho raised their price objective on shares of Atmos Energy from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. 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 report on Monday, June 24th. Finally, Barclays boosted their price objective on Atmos Energy from $121.00 to $129.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.17.

Atmos Energy Price Performance

NYSE ATO traded down $0.19 during trading on Tuesday, hitting $129.22. 478,309 shares of the stock traded hands, compared to its average volume of 904,719. The company has a market capitalization of $19.50 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67. 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 50-day simple moving average of $122.07 and a 200-day simple moving average of $117.90. Atmos Energy Co. has a 12-month low of $101.00 and a 12-month high of $132.24.

Atmos Energy (NYSE:ATO) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. The company had revenue of $701.55 million for the quarter, compared to analyst estimates of $924.75 million. During the same period in the prior year, the company posted $0.94 EPS. As a group, analysts predict that Atmos Energy Co. will post 6.77 EPS for the current year.

Atmos Energy Dividend Announcement

The firm also recently disclosed 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 2.49%. Atmos Energy’s payout ratio is 48.28%.

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.