Atmos Energy (NYSE:ATO) Upgraded by Argus to “Buy” Rating

Argus upgraded shares of Atmos Energy (NYSE:ATO) from a hold rating to a buy rating in a research note published on Friday morning, MarketBeat reports. The firm currently has $150.00 target price on the utilities provider’s stock.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America started coverage on shares of Atmos Energy in a report on Friday, December 13th. They issued a “buy” rating and a $156.00 price target for the company. LADENBURG THALM/SH SH boosted their price objective on shares of Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Barclays raised their target price on Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley dropped 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Atmos Energy has a consensus rating of “Moderate Buy” and a consensus target price of $148.75.

Atmos Energy Trading Up 1.2 %

Shares of NYSE:ATO opened at $139.69 on Friday. The business’s 50-day moving average is $143.40 and its 200 day moving average is $132.61. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.80. Atmos Energy has a 1 year low of $110.46 and a 1 year high of $152.65. The firm has a market capitalization of $21.71 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.80 and a beta of 0.70.

Atmos Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.87 per share. The ex-dividend date was Monday, November 25th. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.49%. Atmos Energy’s dividend payout ratio (DPR) is 50.66%.

Insider Buying and Selling

In other Atmos Energy news, Director Edward Geiser bought 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the transaction, the director now directly owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atmos Energy

A number of large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Atmos Energy by 6.7% in the third quarter. Principal Financial Group Inc. now owns 228,733 shares of the utilities provider’s stock valued at $31,728,000 after acquiring an additional 14,377 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Atmos Energy by 2.0% in the 3rd quarter. Retirement Systems of Alabama now owns 33,932 shares of the utilities provider’s stock valued at $4,707,000 after purchasing an additional 650 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Atmos Energy during the 3rd quarter worth $2,299,000. Tidal Investments LLC grew its holdings in shares of Atmos Energy by 6.6% during the third quarter. Tidal Investments LLC now owns 13,601 shares of the utilities provider’s stock worth $1,887,000 after buying an additional 841 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Atmos Energy in the third quarter valued at about $442,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.