Independence Bank of Kentucky Sells 5,002 Shares of Atmos Energy Co. (NYSE:ATO)

Independence Bank of Kentucky reduced its stake in Atmos Energy Co. (NYSE:ATO) by 38.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,873 shares of the utilities provider’s stock after selling 5,002 shares during the period. Independence Bank of Kentucky’s holdings in Atmos Energy were worth $936,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Baker Avenue Asset Management LP lifted its stake in Atmos Energy by 984.6% during the third quarter. Baker Avenue Asset Management LP now owns 282 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 256 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Atmos Energy by 57.5% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 107 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in Atmos Energy by 107.0% during the third quarter. VisionPoint Advisory Group LLC now owns 294 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Atmos Energy during the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC purchased a new position in shares of Atmos Energy in the fourth quarter worth about $46,000. 90.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ATO has been the topic of several analyst reports. Morgan Stanley decreased their price objective on Atmos Energy from $122.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. UBS Group began coverage on Atmos Energy in a report on Friday, April 12th. They issued a “neutral” rating and a $124.00 price objective on the stock. Mizuho boosted their price target on Atmos Energy from $133.00 to $138.00 and gave the company a “buy” rating in a report on Monday, May 13th. Barclays boosted their price target on Atmos Energy from $121.00 to $129.00 and gave the company an “equal weight” rating in a report on Tuesday, May 14th. Finally, Wells Fargo & Company upgraded Atmos Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $132.00 in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $128.67.

Atmos Energy Stock Performance

ATO traded up $0.10 during mid-day trading on Friday, reaching $116.65. 1,452,574 shares of the company traded hands, compared to its average volume of 1,002,539. The stock has a market capitalization of $17.60 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.46 and a beta of 0.67. The company has a quick ratio of 1.22, a current ratio of 1.36 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $116.76 and its 200-day moving average price is $115.57. Atmos Energy Co. has a 52-week low of $101.00 and a 52-week high of $125.28.

Atmos Energy (NYSE:ATO) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.62 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $2.48 EPS. On average, sell-side analysts expect that Atmos Energy Co. will post 6.78 EPS for the current year.

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were paid a $0.805 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $3.22 dividend on an annualized basis and a yield of 2.76%. Atmos Energy’s payout ratio is presently 48.28%.

Insider Buying and Selling at Atmos Energy

In other news, Director Diana J. Walters sold 400 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $118.00, for a total transaction of $47,200.00. Following the completion of the transaction, the director now owns 3,551 shares in the company, valued at $419,018. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.