PNC Financial Services Group Inc. Acquires 66,747 Shares of Atmos Energy Corporation $ATO

PNC Financial Services Group Inc. raised its holdings in Atmos Energy Corporation (NYSE:ATO) by 10.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 711,135 shares of the utilities provider’s stock after buying an additional 66,747 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Atmos Energy were worth $109,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Atmos Energy by 3.2% in the second quarter. IFP Advisors Inc now owns 2,086 shares of the utilities provider’s stock valued at $325,000 after acquiring an additional 65 shares in the last quarter. SouthState Corp boosted its stake in shares of Atmos Energy by 4.9% during the 1st quarter. SouthState Corp now owns 1,447 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 67 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Atmos Energy by 3.8% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,871 shares of the utilities provider’s stock valued at $289,000 after buying an additional 68 shares during the period. Westside Investment Management Inc. raised its stake in Atmos Energy by 24.0% in the second quarter. Westside Investment Management Inc. now owns 372 shares of the utilities provider’s stock worth $57,000 after buying an additional 72 shares in the last quarter. Finally, LRI Investments LLC raised its stake in Atmos Energy by 6.6% in the second quarter. LRI Investments LLC now owns 1,181 shares of the utilities provider’s stock worth $182,000 after buying an additional 73 shares in the last quarter. Institutional investors own 90.17% of the company’s stock.

Atmos Energy Trading Down 0.5%

Shares of NYSE ATO opened at $177.81 on Thursday. The firm’s 50 day moving average price is $171.43 and its 200-day moving average price is $162.55. Atmos Energy Corporation has a 52-week low of $136.05 and a 52-week high of $180.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.37. The company has a market cap of $28.54 billion, a PE ratio of 24.42, a P/E/G ratio of 2.90 and a beta of 0.73.

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, topping analysts’ consensus estimates of $1.01 by $0.06. The company had revenue of $754.64 million during the quarter, compared to analyst estimates of $726.97 million. Atmos Energy had a net margin of 25.05% and a return on equity of 9.00%. During the same period in the previous year, the business earned $1.08 EPS. Atmos Energy has set its FY 2025 guidance at 8.150-8.350 EPS. On average, equities research analysts expect that Atmos Energy Corporation will post 7.18 EPS for the current fiscal year.

Atmos Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a $1.00 dividend. 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 dividend yield of 2.2%. The ex-dividend date is Monday, November 24th. Atmos Energy’s dividend payout ratio (DPR) is presently 53.40%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ATO shares. Barclays set a $175.00 target price on Atmos Energy in a report on Thursday, October 9th. Bank of America reaffirmed a “neutral” rating and issued a $185.00 target price (up from $182.00) on shares of Atmos Energy in a research report on Thursday, October 16th. Morgan Stanley increased their price target on shares of Atmos Energy from $167.00 to $181.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Mizuho lifted their price target on shares of Atmos Energy from $164.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Atmos Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Atmos Energy currently has an average rating of “Hold” and a consensus target price 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.