Atmos Energy (NYSE:ATO) Upgraded to Overweight by Wells Fargo & Company

Atmos Energy (NYSE:ATOGet Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage currently has a $132.00 target price on the utilities provider’s stock, up from their prior target price of $130.00. Wells Fargo & Company‘s price target indicates a potential upside of 13.47% from the stock’s current price.

Several other equities research analysts have also recently issued reports on ATO. StockNews.com raised shares of Atmos Energy from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group started coverage on Atmos Energy in a research note on Friday, April 12th. They issued a “neutral” rating and a $124.00 price target on the stock. Barclays upped their price objective on Atmos Energy from $115.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Mizuho raised their target price on Atmos Energy from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.83.

Check Out Our Latest Stock Analysis on ATO

Atmos Energy Stock Down 0.7 %

Atmos Energy stock opened at $116.33 on Tuesday. The firm has a market capitalization of $17.55 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.48 and a beta of 0.66. The stock’s fifty day simple moving average is $116.77 and its 200-day simple moving average is $114.68. Atmos Energy has a twelve month low of $101.00 and a twelve month high of $125.28. The company has a current ratio of 1.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65.

Atmos Energy (NYSE:ATOGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.23. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.54 billion. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. Atmos Energy’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.48 EPS. As a group, equities analysts expect that Atmos Energy will post 6.75 earnings per share for the current fiscal year.

Insider Activity at Atmos Energy

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Atmos Energy during the fourth quarter worth $137,757,000. Wellington Management Group LLP raised its stake in shares of Atmos Energy by 11.6% during the 4th quarter. Wellington Management Group LLP now owns 10,032,032 shares of the utilities provider’s stock worth $1,162,713,000 after buying an additional 1,041,608 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Atmos Energy by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,347,371 shares of the utilities provider’s stock worth $2,049,467,000 after buying an additional 538,578 shares in the last quarter. Perpetual Ltd grew its stake in Atmos Energy by 46.2% in the 1st quarter. Perpetual Ltd now owns 1,411,697 shares of the utilities provider’s stock valued at $167,808,000 after acquiring an additional 446,292 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its stake in Atmos Energy by 281.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 562,622 shares of the utilities provider’s stock valued at $65,208,000 after acquiring an additional 415,054 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Company Profile

(Get Free Report)

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.

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