Zacks Investment Research lowered shares of Atmos Energy (NYSE:ATO) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Atmos Energy Corporation, together with its subsidiaries, engages in the distribution, transmission, and storage of natural gas in the United States. It operates in three segments: Regulated Distribution, Regulated Pipeline, and Nonregulated. The Regulated Distribution segment is involved in regulated natural gas distribution and related sales operations. This segment distributes natural gas to approximately 3 million residential, commercial, public authority, and industrial customers. The Regulated Pipeline segment engages in the pipeline and storage operations. This segment transports natural gas for third parties and manages five underground storage reservoirs in Texas; and provides ancillary services in the pipeline industry. The Nonregulated segment provides natural gas management, marketing, transportation, and storage services to municipalities, local gas distribution companies, and industrial customers primarily in the Midwest and Southeast. “
Separately, JPMorgan Chase & Co. boosted their price target on shares of Atmos Energy from $91.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Atmos Energy has an average rating of Buy and an average target price of $89.20.
Atmos Energy (NYSE:ATO) last posted its quarterly earnings results on Wednesday, November 8th. The utilities provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. During the same quarter last year, the business earned $0.40 EPS. analysts anticipate that Atmos Energy will post 3.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 24th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.45. This represents a $1.94 dividend on an annualized basis and a yield of 2.33%. Atmos Energy’s payout ratio is 51.87%.
Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank raised its stake in Atmos Energy by 13.6% during the second quarter. Toronto Dominion Bank now owns 1,293 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 155 shares during the period. NEXT Financial Group Inc raised its stake in shares of Atmos Energy by 159.8% in the 3rd quarter. NEXT Financial Group Inc now owns 1,585 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 975 shares during the period. Carnegie Capital Asset Management LLC purchased a new stake in shares of Atmos Energy in the 2nd quarter valued at approximately $216,000. Private Advisor Group LLC purchased a new stake in shares of Atmos Energy in the 3rd quarter valued at approximately $223,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Atmos Energy by 72.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,922 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 1,224 shares during the period. 67.73% of the stock is currently owned by institutional investors.
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Atmos Energy Company Profile
Atmos Energy Corporation is a fully-regulated, natural-gas-only distributor engaged primarily in the regulated natural gas distribution and pipeline businesses, as well as other nonregulated natural gas businesses. It operates through three segments: regulated distribution segment, which includes its regulated distribution and related sales operations; regulated pipeline segment, which includes pipeline and storage operations of its Atmos Pipeline-Texas Division, and nonregulated segment, which includes its nonregulated natural gas management, nonregulated natural gas transmission, storage and other services.
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