Atmos Energy (NYSE:ATO) Shares Break Above Two Hundred Day Moving Average – Here’s Why

Atmos Energy Corporation (NYSE:ATO)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $174.31 and traded as high as $175.57. Atmos Energy shares last traded at $175.31, with a volume of 867,748 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ATO shares. Argus restated a “buy” rating and set a $185.00 target price on shares of Atmos Energy in a report on Tuesday, October 6th. Barclays decreased their price target on Atmos Energy from $184.00 to $183.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen raised Atmos Energy from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. downgraded Atmos Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $198.00 to $180.00 in a research note on Friday, September 11th. Finally, Truist Financial reduced their target price on Atmos Energy from $179.00 to $174.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $183.36.

Atmos Energy Trading Up 1.1%

The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $165.15 and its 200-day moving average is $174.31. The firm has a market capitalization of $29.63 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.74 and a beta of 0.56.

Atmos Energy (NYSE:ATO) last posted its earnings results on Wednesday, November 4th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $837.00 million for the quarter, compared to analyst estimates of $873.77 million. Atmos Energy had a net margin of 28.50% and a return on equity of 9.63%. During the same period last year, the business posted $1.07 EPS. As a group, sell-side analysts anticipate that Atmos Energy Corporation will post 9.10 earnings per share for the current fiscal year.

Atmos Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 23rd will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Atmos Energy’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, November 23rd. Atmos Energy’s dividend payout ratio is currently 47.00%.

Hedge Funds Weigh In On Atmos Energy

A number of institutional investors have recently made changes to their positions in the business. Frazier Financial Advisors LLC acquired a new position in shares of Atmos Energy during the 2nd quarter worth about $25,000. Continuum Advisory LLC acquired a new stake in Atmos Energy in the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC grew its holdings in Atmos Energy by 627.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 160 shares of the utilities provider’s stock valued at $28,000 after buying an additional 138 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Atmos Energy in the 2nd quarter valued at approximately $28,000. Finally, Downshift Financial LLC increased its position in Atmos Energy by 2,514.3% in the 3rd quarter. Downshift Financial LLC now owns 183 shares of the utilities provider’s stock worth $29,000 after buying an additional 176 shares during the period. 90.17% of the stock is currently owned by institutional investors.

About Atmos Energy

Atmos Energy Corporation is a regulated natural gas utility and pipeline operator headquartered in Dallas, Texas. The company distributes natural gas to residential, commercial and industrial customers and operates natural gas transmission and storage assets. Its regulated distribution business serves customers in eight states: Colorado, Kansas, Kentucky, Louisiana, Mississippi, Tennessee, Texas and Virginia. Through its pipeline and storage operations, Atmos Energy moves and stores natural gas, primarily in Texas, Louisiana and Mississippi.