Portfolio Design Labs LLC Reduces Stock Position in Atmos Energy Co. (NYSE:ATO)

Portfolio Design Labs LLC decreased its stake in shares of Atmos Energy Co. (NYSE:ATO) by 46.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,730 shares of the utilities provider’s stock after selling 10,124 shares during the quarter. Portfolio Design Labs LLC’s holdings in Atmos Energy were worth $1,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ATO. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Atmos Energy during the third quarter worth $209,000. Jennison Associates LLC acquired a new position in Atmos Energy during the 3rd quarter valued at about $32,221,000. Commerce Bank raised its position in Atmos Energy by 12.5% in the third quarter. Commerce Bank now owns 11,437 shares of the utilities provider’s stock worth $1,586,000 after acquiring an additional 1,268 shares in the last quarter. Strategy Asset Managers LLC raised its position in shares of Atmos Energy by 12.8% during the third quarter. Strategy Asset Managers LLC now owns 2,676 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 304 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Atmos Energy by 2.2% in the third quarter. PNC Financial Services Group Inc. now owns 636,660 shares of the utilities provider’s stock worth $88,311,000 after acquiring an additional 13,714 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ATO. Morgan Stanley boosted their price target on shares of Atmos Energy from $128.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on shares of Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays boosted their target price on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group assumed coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They set a “hold” rating and a $155.00 price target for the company. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.94.

Insiders Place Their Bets

In other news, Director Edward Geiser purchased 2,500 shares of Atmos Energy stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the transaction, the director now owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. The trade was a 2,450.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Atmos Energy Stock Down 0.1 %

ATO stock opened at $146.81 on Wednesday. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.90 and a beta of 0.68. The business has a 50 day moving average price of $139.99 and a two-hundred day moving average price of $128.10. Atmos Energy Co. has a twelve month low of $110.46 and a twelve month high of $148.39. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

Atmos Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.87 dividend. The ex-dividend date is Monday, November 25th. 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 2.37%. Atmos Energy’s dividend payout ratio is presently 50.66%.

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.