Atmos Energy (NYSE:ATO) Issues Earnings Results

Atmos Energy (NYSE:ATO) released its quarterly earnings results on Wednesday. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03, Briefing.com reports. The company had revenue of $701.55 million for the quarter, compared to analysts’ expectations of $924.75 million. Atmos Energy had a net margin of 24.65% and a return on equity of 9.01%. During the same period last year, the company 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 %

NYSE ATO traded up $1.10 during mid-day trading on Friday, hitting $128.05. The company’s stock had a trading volume of 671,449 shares, compared to its average volume of 915,817. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.36 and a quick ratio of 1.22. Atmos Energy has a 52-week low of $101.00 and a 52-week high of $132.24. The stock’s fifty day simple moving average is $119.93 and its two-hundred day simple moving average is $117.00. The firm has a market capitalization of $19.32 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67.

Atmos Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 26th will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Monday, August 26th. Atmos Energy’s dividend payout ratio (DPR) is presently 48.28%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Mizuho raised their target price on shares of Atmos Energy from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. UBS Group began coverage on Atmos Energy in a report on Friday, April 12th. They set a “neutral” rating and a $124.00 price objective on the stock. Barclays upped their target price on Atmos Energy from $121.00 to $129.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised their price target on Atmos Energy from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com raised shares of Atmos Energy from a “sell” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

Insiders Place Their Bets

In related news, Director Diana J. Walters sold 400 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $118.00, for a total value of $47,200.00. Following the completion of the sale, the director now directly owns 3,551 shares in the company, valued at approximately $419,018. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.