Atmos Energy (NYSE:ATO) Releases FY 2024 Earnings Guidance

Atmos Energy (NYSE:ATO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.700-6.800 for the period, compared to the consensus estimate of 6.600. The company issued revenue guidance of -. Atmos Energy also updated its FY24 guidance to $6.70-6.80 EPS.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ATO shares. Barclays raised their target price on Atmos Energy from $115.00 to $121.00 and gave the company an equal weight rating in a research note on Thursday, March 14th. UBS Group initiated coverage on shares of Atmos Energy in a research note on Friday, April 12th. They set a neutral rating and a $124.00 price objective on the stock. Finally, StockNews.com downgraded Atmos Energy from a hold rating to a sell rating in a research report on Saturday, April 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atmos Energy has a consensus rating of Hold and an average price target of $124.33.

Atmos Energy Price Performance

NYSE:ATO traded up $0.25 during trading hours on Wednesday, reaching $120.59. 980,068 shares of the company’s stock were exchanged, compared to its average volume of 807,761. The company has a market capitalization of $18.19 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 2.58 and a beta of 0.66. Atmos Energy has a 12 month low of $101.00 and a 12 month high of $125.28. The business’s 50-day simple moving average is $116.35 and its two-hundred day simple moving average is $114.40. The company has a quick ratio of 1.25, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Atmos Energy (NYSE:ATO) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. Atmos Energy had a return on equity of 8.62% and a net margin of 23.43%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $2.48 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Atmos Energy will post 6.6 EPS for the current fiscal year.

Atmos Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.67%. Atmos Energy’s dividend payout ratio is currently 51.11%.

Insider Buying and Selling

In other news, Director Kim R. Cocklin sold 15,000 shares of Atmos Energy stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $116.46, for a total transaction of $1,746,900.00. Following the transaction, the director now owns 186,339 shares in the company, valued at $21,701,039.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.