Atmos Energy Corp. (ATO) Raised to “Buy” at Zacks Investment Research
Atmos Energy Corp. (NYSE:ATO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $77.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.66% from the stock’s previous close.
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. “
Several other research analysts have also recently weighed in on ATO. Citigroup Inc. boosted their price target on shares of Atmos Energy Corp. from $58.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. lowered their price target on shares of Atmos Energy Corp. from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.43.
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Atmos Energy Corp. (NYSE:ATO) traded down 2.46% on Tuesday, reaching $68.96. 592,658 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $74.09 and a 200-day moving average of $75.31. Atmos Energy Corp. has a one year low of $58.75 and a one year high of $81.97. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 20.94 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts forecast that Atmos Energy Corp. will post $3.30 EPS for the current fiscal year.
In other Atmos Energy Corp. news, Director Thomas C. Meredith sold 1,020 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $75.24, for a total value of $76,744.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Louis P. Gregory sold 4,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $78.10, for a total transaction of $312,400.00. Following the completion of the transaction, the senior vice president now directly owns 82,182 shares in the company, valued at approximately $6,418,414.20. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Atmos Energy Corp. during the first quarter valued at about $343,000. Credit Agricole S A boosted its stake in shares of Atmos Energy Corp. by 135.3% in the first quarter. Credit Agricole S A now owns 22,877 shares of the company’s stock valued at $1,699,000 after buying an additional 13,154 shares in the last quarter. NWQ Investment Management Company LLC acquired a new stake in shares of Atmos Energy Corp. during the first quarter valued at about $12,619,000. M&T Bank Corp boosted its stake in shares of Atmos Energy Corp. by 9.8% in the first quarter. M&T Bank Corp now owns 15,510 shares of the company’s stock valued at $1,152,000 after buying an additional 1,378 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of 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. 70.63% of the stock is currently owned by institutional investors.
Atmos Energy Corp. Company Profile
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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