Atmos Energy (NYSE:ATO) Issues Earnings Results, Beats Estimates By $0.03 EPS

Atmos Energy (NYSE:ATO) issued its quarterly earnings data on Wednesday. The utilities provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03, Briefing.com reports. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. The firm had revenue of $701.55 million during the quarter, compared to the consensus estimate of $924.75 million. During the same period in the prior year, the business earned $0.94 EPS. Atmos Energy updated its FY24 guidance to $6.70-6.80 EPS and its FY 2024 guidance to 6.800-6.800 EPS.

Atmos Energy Trading Up 0.9 %

Shares of NYSE ATO traded up $1.10 during mid-day trading on Friday, hitting $128.05. 674,460 shares of the company traded hands, compared to its average volume of 915,837. Atmos Energy has a 1 year low of $101.00 and a 1 year high of $132.24. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.74 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 business has a 50 day moving average of $119.93 and a two-hundred day moving average of $117.00.

Atmos Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, August 26th. Atmos Energy’s dividend payout ratio is 48.28%.

Insider Activity

In other news, Director Diana J. Walters sold 400 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 3,551 shares of the company’s stock, valued at $419,018. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ATO shares. Morgan Stanley reduced their price target on Atmos Energy from $122.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Wells Fargo & Company boosted their price target on Atmos Energy from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho boosted their price target on Atmos Energy from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Barclays upped their price objective 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, UBS Group started coverage on Atmos Energy in a report on Friday, April 12th. They issued a “neutral” rating and a $124.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.83.

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.