Trust Point Inc. Trims Stake in Atmos Energy Co. (NYSE:ATO)

Trust Point Inc. lessened its position in Atmos Energy Co. (NYSE:ATO) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,487 shares of the utilities provider’s stock after selling 131 shares during the quarter. Trust Point Inc.’s holdings in Atmos Energy were worth $345,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its stake in Atmos Energy by 200.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 288 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 192 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Atmos Energy during the 2nd quarter worth approximately $37,000. Janiczek Wealth Management LLC boosted its holdings in Atmos Energy by 467.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 618 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 509 shares during the period. GAMMA Investing LLC boosted its holdings in Atmos Energy by 75.6% during the 2nd quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 335 shares during the period. Finally, Covestor Ltd grew its position in Atmos Energy by 248.5% in the 1st quarter. Covestor Ltd now owns 805 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 574 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Atmos Energy Stock Performance

Shares of NYSE:ATO opened at $143.26 on Friday. The firm has a 50 day moving average of $134.92 and a 200 day moving average of $124.24. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68. Atmos Energy Co. has a 52 week low of $105.44 and a 52 week high of $144.32.

Atmos Energy (NYSE:ATO) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $701.55 million during the quarter, compared to analyst estimates of $924.75 million. Atmos Energy had a return on equity of 8.94% and a net margin of 25.09%. During the same period in the previous year, the company posted $0.94 EPS. On average, sell-side analysts predict that Atmos Energy Co. will post 6.79 earnings per share for the current fiscal year.

Atmos Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 26th were issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, August 26th. Atmos Energy’s dividend payout ratio is currently 48.28%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ATO. Wells Fargo & Company lifted their target price on Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group started coverage on shares of Atmos Energy in a research report on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 price objective for the company. StockNews.com downgraded shares of Atmos Energy from a “hold” rating to a “sell” rating in a research note on Friday. Barclays lifted their price target on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $143.94.

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.