Atmos Energy (NYSE:ATO) Now Covered by Bank of America

Bank of America initiated coverage on shares of Atmos Energy (NYSE:ATO) in a research report report published on Friday morning. The brokerage issued a buy rating and a $156.00 price objective on the utilities provider’s stock.

A number of other analysts have also issued reports on the company. Morgan Stanley lowered their price target on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They set a “hold” rating and a $155.00 target price on the stock. Mizuho increased their target price on shares of Atmos Energy from $148.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays boosted their price target on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company raised their target price on shares of Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Atmos Energy currently has an average rating of “Moderate Buy” and a consensus target price of $148.61.

Atmos Energy Price Performance

NYSE:ATO opened at $140.59 on Friday. The stock has a 50 day moving average of $143.31 and a two-hundred day moving average of $131.72. Atmos Energy has a 12 month low of $110.46 and a 12 month high of $152.65. The firm has a market cap of $21.85 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.80 and a beta of 0.70. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.65.

Atmos Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were issued a $0.87 dividend. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Monday, November 25th. Atmos Energy’s dividend payout ratio is currently 50.66%.

Insider Activity at Atmos Energy

In other news, Director Edward Geiser acquired 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $144.89 per share, with a total value of $362,225.00. Following the completion of the purchase, the director now owns 2,602 shares of the company’s stock, valued at $377,003.78. This represents a 2,450.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dunhill Financial LLC grew its stake in shares of Atmos Energy by 1,542.9% in the third quarter. Dunhill Financial LLC now owns 230 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 216 shares in the last quarter. Innealta Capital LLC purchased a new stake in Atmos Energy during the 2nd quarter worth about $37,000. PFS Partners LLC acquired a new stake in Atmos Energy in the 3rd quarter valued at about $69,000. First Horizon Advisors Inc. boosted its stake in shares of Atmos Energy by 158.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock valued at $116,000 after buying an additional 611 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Atmos Energy by 17.9% in the 3rd quarter. GAMMA Investing LLC now owns 917 shares of the utilities provider’s stock valued at $127,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.

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.