Atmos Energy Corp. (ATO) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Atmos Energy Corp. (NYSE:ATO) from a hold rating to a buy rating in a research report released on Tuesday morning. The firm currently has $77.00 target price on the stock.
According to Zacks, “Atmos Energy Corporation distributes and sells natural gas to residential, commercial, industrial, agricultural and other customers. Atmos operates through five divisions in cities, towns and communities in service areas located in Colorado, Georgia, Illinois, Iowa, Kansas, Kentucky, Louisiana, Missouri, South Carolina, Tennessee, Texas and Virginia. The Company has entered into an agreement to sell all of its natural gas utility operations in South Carolina. The Company also transports natural gas for others through its distribution system. “
Other equities analysts have also issued research reports about the stock. Citigroup Inc. increased their target price on shares of Atmos Energy Corp. from $58.00 to $81.00 and gave the company a neutral rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of Atmos Energy Corp. from $88.00 to $87.00 and set an overweight rating on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $76.43.
Atmos Energy Corp. (NYSE:ATO) opened at 71.08 on Tuesday. The stock’s 50 day moving average is $73.55 and its 200 day moving average is $75.18. Atmos Energy Corp. has a one year low of $59.22 and a one year high of $81.97. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 21.59 and a beta of 0.30.
Atmos Energy Corp. (NYSE:ATO) last released its earnings results on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.11. During the same quarter in the prior year, the business posted $0.54 EPS. On average, analysts predict that Atmos Energy Corp. will post $3.30 earnings per share for the current fiscal year.
In other Atmos Energy Corp. news, SVP Louis P. Gregory sold 4,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $78.10, for a total value of $312,400.00. Following the sale, the senior vice president now owns 82,182 shares of the company’s stock, valued at approximately $6,418,414.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas C. Meredith sold 1,020 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $75.24, for a total transaction of $76,744.80. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Atmos Energy Corp. by 3.1% in the first quarter. Legal & General Group Plc now owns 362,484 shares of the company’s stock worth $26,917,000 after buying an additional 10,995 shares during the period. Renaissance Technologies LLC boosted its stake in Atmos Energy Corp. by 3.4% in the first quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock valued at $28,672,000 after buying an additional 12,700 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Atmos Energy Corp. by 89.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock valued at $132,000 after buying an additional 764 shares in the last quarter. Prudential Financial Inc. boosted its stake in Atmos Energy Corp. by 42.9% in the first quarter. Prudential Financial Inc. now owns 161,749 shares of the company’s stock valued at $12,012,000 after buying an additional 48,550 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Atmos Energy Corp. by 174.2% in the first quarter. Bessemer Group Inc. now owns 1,522 shares of the company’s stock valued at $113,000 after buying an additional 967 shares in the last quarter. 70.57% of the stock is currently owned by institutional investors and hedge funds.
About Atmos Energy Corp.
Atmos Energy Corporation (Atmos Energy) is engaged primarily in the regulated natural gas distribution and transmission and storage businesses as well as other nonregulated natural gas businesses. The Company delivers natural gas through regulated sales and transportation arrangements to over three million residential, commercial, public authority and industrial customers in nine states located primarily in the South.
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