Atmos Energy (ATO) Updates FY19 Earnings Guidance

Atmos Energy (NYSE:ATO) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.20-4.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.24.

Shares of Atmos Energy stock traded up $1.24 during trading hours on Wednesday, reaching $96.70. 357,403 shares of the stock traded hands, compared to its average volume of 488,906. The company has a market cap of $10.25 billion, a P/E ratio of 26.86, a P/E/G ratio of 3.32 and a beta of 0.10. Atmos Energy has a one year low of $76.46 and a one year high of $98.40. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 0.55.

Atmos Energy (NYSE:ATO) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.04). The business had revenue of $562.25 million during the quarter, compared to analyst estimates of $622.30 million. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Research analysts anticipate that Atmos Energy will post 3.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be paid a dividend of $0.525 per share. This is an increase from Atmos Energy’s previous quarterly dividend of $0.49. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.17%. Atmos Energy’s payout ratio is 53.89%.

A number of research analysts recently issued reports on ATO shares. Seaport Global Securities reiterated a buy rating and set a $98.00 price objective on shares of Atmos Energy in a research note on Thursday, August 16th. Zacks Investment Research downgraded Atmos Energy from a buy rating to a hold rating in a research note on Monday, October 29th. Morgan Stanley set a $103.00 price objective on Atmos Energy and gave the company a buy rating in a research note on Thursday, October 11th. Bank of America boosted their price objective on Atmos Energy from $94.00 to $101.00 and gave the company a buy rating in a research note on Monday, October 29th. Finally, Barclays set a $91.00 price objective on Atmos Energy and gave the company a sell rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $94.38.

In related news, Director Nancy K. Quinn sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $93.05, for a total value of $186,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard W. Douglas sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $93.04, for a total value of $3,256,400.00. Following the completion of the transaction, the insider now directly owns 6,292 shares in the company, valued at $585,407.68. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

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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 Distribution, and Pipeline and Storage segments. The Distribution segment is involved in regulated natural gas distribution, and related sales and storage operations.

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