Atmos Energy (NYSE:ATO) Reaches New 1-Year High Following Dividend Announcement

Atmos Energy Co. (NYSE:ATO)’s share price hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $144.51 and last traded at $143.78, with a volume of 344060 shares traded. The stock had previously closed at $138.88.

The newly announced dividend which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $3.48 annualized dividend and a dividend yield of 2.46%. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s dividend payout ratio (DPR) is presently 46.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. LADENBURG THALM/SH SH boosted their price target on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley boosted their target price on shares of Atmos Energy from $128.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Atmos Energy currently has a consensus rating of “Moderate Buy” and an average target price of $143.94.

Atmos Energy Stock Performance

The firm has a market capitalization of $21.96 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.75 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.57. The firm has a 50-day moving average price of $138.02 and a two-hundred day moving average price of $126.62.

Atmos Energy (NYSE:ATO) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. The business had revenue of $701.55 million during the quarter, compared to analysts’ expectations of $924.75 million. Atmos Energy had a return on equity of 8.94% and a net margin of 25.09%. During the same period in the prior year, the business earned $0.94 EPS. On average, analysts forecast that Atmos Energy Co. will post 6.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Atmos Energy

Several large investors have recently modified their holdings of ATO. CANADA LIFE ASSURANCE Co lifted its stake in shares of Atmos Energy by 3.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 176,224 shares of the utilities provider’s stock worth $20,957,000 after purchasing an additional 6,641 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Atmos Energy in the 1st quarter valued at about $1,876,000. Swedbank AB grew its position in shares of Atmos Energy by 565.3% in the 2nd quarter. Swedbank AB now owns 40,621 shares of the utilities provider’s stock worth $4,738,000 after buying an additional 34,515 shares during the last quarter. M&G Plc bought a new position in shares of Atmos Energy during the 1st quarter worth approximately $32,941,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Atmos Energy by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,721 shares of the utilities provider’s stock valued at $48,960,000 after acquiring an additional 14,440 shares during the last quarter. Institutional investors own 90.17% of the company’s stock.

About Atmos Energy

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.