Atmos Energy (NYSE:ATO) had its price target hoisted by stock analysts at Morgan Stanley from $113.00 to $118.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 1.79% from the stock’s current price.
ATO has been the topic of several other research reports. Argus lifted their target price on Atmos Energy to $125.00 and gave the company a “positive” rating in a research report on Tuesday, October 1st. UBS Group raised shares of Atmos Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $119.00 to $120.00 in a report on Wednesday, December 4th. Bank of America upgraded shares of Atmos Energy from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 7th. Mizuho initiated coverage on Atmos Energy in a report on Wednesday, October 16th. They set a “neutral” rating and a $114.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Atmos Energy from $115.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $117.60.
Shares of NYSE ATO opened at $115.92 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.27 and a current ratio of 0.38. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 3.45 and a beta of 0.15. The business’s 50-day simple moving average is $110.42 and its 200-day simple moving average is $109.87. Atmos Energy has a 52 week low of $93.86 and a 52 week high of $116.11.
Atmos Energy (NYSE:ATO) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $443.68 million during the quarter, compared to the consensus estimate of $582.98 million. Atmos Energy had a return on equity of 9.19% and a net margin of 17.62%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, equities research analysts forecast that Atmos Energy will post 4.67 earnings per share for the current year.
In related news, SVP David J. Park sold 4,000 shares of Atmos Energy stock in a transaction on Monday, November 11th. The shares were sold at an average price of $106.92, for a total value of $427,680.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Atria Investments LLC purchased a new stake in shares of Atmos Energy during the second quarter valued at $1,734,000. Nuveen Asset Management LLC raised its position in shares of Atmos Energy by 950.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 765,991 shares of the utilities provider’s stock valued at $80,858,000 after buying an additional 693,076 shares in the last quarter. Luminus Management LLC boosted its stake in shares of Atmos Energy by 293.1% during the 2nd quarter. Luminus Management LLC now owns 893,511 shares of the utilities provider’s stock worth $94,319,000 after purchasing an additional 666,193 shares during the period. Millennium Management LLC boosted its holdings in shares of Atmos Energy by 1,515.1% in the third quarter. Millennium Management LLC now owns 340,306 shares of the utilities provider’s stock valued at $38,757,000 after purchasing an additional 319,236 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Atmos Energy by 24.4% during the second quarter. California Public Employees Retirement System now owns 853,911 shares of the utilities provider’s stock worth $90,139,000 after buying an additional 167,365 shares during the period. 80.79% of the stock is owned by institutional investors and hedge funds.
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 the regulated natural gas distribution and related sales operations in eight states.
Further Reading: Are sell-side analysts objective?
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