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

Atmos Energy Corporation (NYSE:ATO)’s share price passed 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 changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATO. Wells Fargo & Company reaffirmed an “overweight” rating and set a $201.00 price target on shares of Atmos Energy in a research report on Friday, November 6th. Jefferies Financial Group cut their price target on shares of Atmos Energy from $173.00 to $167.00 and set a “hold” rating on the stock in a research note on Thursday, October 1st. Truist Financial decreased their price target on shares of Atmos Energy from $179.00 to $174.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. JPMorgan Chase & Co. cut shares of Atmos Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $198.00 to $180.00 in a research note on Friday, September 11th. Finally, Morgan Stanley upped their price objective on Atmos Energy from $179.00 to $182.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.36.

Atmos Energy Price Performance

The stock has a market cap of $29.71 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $165.32 and its 200 day moving average is $174.37.

Atmos Energy (NYSE:ATO) last released its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. Atmos Energy had a net margin of 28.50% and a return on equity of 9.63%. The company had revenue of $837.00 million during the quarter, compared to the consensus estimate of $873.77 million. During the same period in the previous year, the firm earned $1.07 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, November 23rd. This is a positive change from Atmos Energy’s previous quarterly dividend of $1.00. Atmos Energy’s dividend payout ratio (DPR) is presently 51.23%.

Institutional Trading of Atmos Energy

Several large investors have recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC acquired a new position in shares of Atmos Energy during the second quarter worth about $25,000. Continuum Advisory LLC purchased a new stake in shares of Atmos Energy in the second quarter worth about $25,000. Elevation Wealth Partners LLC boosted its position in shares of Atmos Energy by 627.3% in the second quarter. Elevation Wealth Partners LLC now owns 160 shares of the utilities provider’s stock worth $28,000 after buying an additional 138 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Atmos Energy in the second quarter valued at about $28,000. Finally, Downshift Financial LLC grew its stake in shares of Atmos Energy by 2,514.3% in the third quarter. Downshift Financial LLC now owns 183 shares of the utilities provider’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Company Profile

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.