Empowered Funds LLC Raises Stake in Atmos Energy Co. (NYSE:ATO)

Empowered Funds LLC boosted its holdings in shares of Atmos Energy Co. (NYSE:ATO) by 11.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,605 shares of the utilities provider’s stock after buying an additional 277 shares during the quarter. Empowered Funds LLC’s holdings in Atmos Energy were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ATO. Renaissance Technologies LLC increased its holdings in Atmos Energy by 1,532.1% in the second quarter. Renaissance Technologies LLC now owns 218,700 shares of the utilities provider’s stock valued at $25,511,000 after buying an additional 205,300 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Atmos Energy by 36.7% during the second quarter. Hsbc Holdings PLC now owns 730,759 shares of the utilities provider’s stock worth $85,240,000 after buying an additional 196,163 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Atmos Energy by 45.7% during the 2nd quarter. AQR Capital Management LLC now owns 444,267 shares of the utilities provider’s stock valued at $51,544,000 after acquiring an additional 139,429 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Atmos Energy in the 3rd quarter valued at about $175,380,000. Finally, Canada Pension Plan Investment Board grew its position in Atmos Energy by 116.2% in the second quarter. Canada Pension Plan Investment Board now owns 230,492 shares of the utilities provider’s stock worth $26,887,000 after acquiring an additional 123,904 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Atmos Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley dropped their price target on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group initiated coverage on Atmos Energy in a research note on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Atmos Energy has a consensus rating of “Moderate Buy” and a consensus target price of $144.31.

Atmos Energy Stock Performance

Shares of ATO opened at $150.13 on Tuesday. Atmos Energy Co. has a 1 year low of $110.46 and a 1 year high of $151.24. The stock has a market capitalization of $23.33 billion, a P/E ratio of 21.84, a P/E/G ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.80 and a current ratio of 0.94. The company’s fifty day moving average is $141.02 and its two-hundred day moving average is $128.90.

Atmos Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s dividend payout ratio (DPR) is currently 46.87%.

Insider Activity at Atmos Energy

In related news, Director Edward Geiser bought 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $144.89 per share, with a total value of $362,225.00. Following the completion of the acquisition, the director now owns 2,602 shares in the company, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

Atmos Energy 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.