Magellan Asset Management Ltd Reduces Holdings in Atmos Energy Corporation $ATO

Magellan Asset Management Ltd lowered its position in shares of Atmos Energy Corporation (NYSE:ATO) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 116,259 shares of the utilities provider’s stock after selling 629 shares during the quarter. Magellan Asset Management Ltd’s holdings in Atmos Energy were worth $17,917,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Atmos Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 20,791,335 shares of the utilities provider’s stock worth $3,213,925,000 after buying an additional 424,235 shares during the period. Nuveen LLC purchased a new position in shares of Atmos Energy during the first quarter worth approximately $65,333,000. Clark Capital Management Group Inc. grew its position in shares of Atmos Energy by 2,713.2% during the first quarter. Clark Capital Management Group Inc. now owns 305,769 shares of the utilities provider’s stock worth $47,266,000 after acquiring an additional 294,900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Atmos Energy by 24.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,317,500 shares of the utilities provider’s stock valued at $203,659,000 after acquiring an additional 257,341 shares during the period. Finally, Jennison Associates LLC raised its position in Atmos Energy by 93.8% in the 1st quarter. Jennison Associates LLC now owns 444,464 shares of the utilities provider’s stock valued at $68,705,000 after purchasing an additional 215,157 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Atmos Energy Trading Up 0.8%

NYSE ATO opened at $176.96 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $28.41 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.90 and a beta of 0.73. Atmos Energy Corporation has a 52-week low of $136.05 and a 52-week high of $180.65. The firm has a 50-day moving average price of $170.68 and a 200 day moving average price of $162.14.

Atmos Energy (NYSE:ATO) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.06. Atmos Energy had a return on equity of 9.00% and a net margin of 25.05%.The company had revenue of $754.64 million for the quarter, compared to analyst estimates of $726.97 million. During the same quarter in the previous year, the company earned $1.08 EPS. Atmos Energy has set its FY 2025 guidance at 8.150-8.350 EPS. Equities research analysts expect that Atmos Energy Corporation will post 7.18 EPS for the current year.

Atmos Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be issued a dividend of $1.00 per share. This is a boost from Atmos Energy’s previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, November 24th. Atmos Energy’s dividend payout ratio is currently 53.40%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ATO shares. UBS Group reissued a “neutral” rating and set a $159.00 price objective (up from $146.00) on shares of Atmos Energy in a research report on Wednesday, July 30th. Bank of America reiterated a “neutral” rating and set a $185.00 target price (up previously from $182.00) on shares of Atmos Energy in a research note on Thursday, October 16th. TD Cowen upgraded Atmos Energy to a “hold” rating in a research report on Wednesday, October 15th. Argus set a $172.00 price objective on Atmos Energy in a research note on Thursday, September 18th. Finally, Wall Street Zen raised Atmos Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Atmos Energy presently has an average rating of “Hold” and a consensus price target of $170.44.

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.