Zacks Investment Research upgraded shares of Atmos Energy Corp. (NYSE:ATO) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $77.00 target price on the stock.
According to Zacks, “Atmos Energy Corporation distributes and sells natural gas to residential, commercial, industrial, agricultural and other customers. Atmos operates through five divisions in cities, towns and communities in service areas located in Colorado, Georgia, Illinois, Iowa, Kansas, Kentucky, Louisiana, Missouri, South Carolina, Tennessee, Texas and Virginia. The Company has entered into an agreement to sell all of its natural gas utility operations in South Carolina. The Company also transports natural gas for others through its distribution system. “
Several other research firms have also recently commented on ATO. Citigroup Inc. increased their price objective on Atmos Energy Corp. from $58.00 to $81.00 and gave the company a neutral rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. dropped their price objective on Atmos Energy Corp. from $88.00 to $87.00 and set an overweight rating on the stock in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $76.43.
Atmos Energy Corp. (NYSE:ATO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.58 by $0.11. During the same period in the previous year, the firm earned $0.54 EPS.
In other news, Director Thomas C. Meredith sold 1,020 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $75.24, for a total value of $76,744.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Louis P. Gregory sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $78.10, for a total value of $312,400.00. Following the completion of the transaction, the senior vice president now directly owns 82,182 shares in the company, valued at approximately $6,418,414.20. The disclosure for this sale can be found here. 1.49% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Carroll Financial Associates Inc. increased its position in Atmos Energy Corp. by 104.5% in the third quarter. Carroll Financial Associates Inc. now owns 1,378 shares of the company’s stock valued at $102,000 after buying an additional 704 shares during the period. Bessemer Group Inc. increased its position in Atmos Energy Corp. by 174.2% in the first quarter. Bessemer Group Inc. now owns 1,522 shares of the company’s stock valued at $113,000 after buying an additional 967 shares during the period. Tower Research Capital LLC TRC increased its position in Atmos Energy Corp. by 89.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock valued at $132,000 after buying an additional 764 shares during the period. Nordea Investment Management AB increased its position in Atmos Energy Corp. by 7.4% in the second quarter. Nordea Investment Management AB now owns 2,147 shares of the company’s stock valued at $175,000 after buying an additional 147 shares during the period. Finally, CIBC World Markets Inc. bought a new position in Atmos Energy Corp. during the second quarter valued at approximately $202,000. 70.63% of the stock is currently owned by hedge funds and other institutional investors.
Atmos Energy Corp. Company Profile
Atmos Energy Corporation (Atmos Energy) is engaged primarily in the regulated natural gas distribution and transmission and storage businesses as well as other nonregulated natural gas businesses. The Company delivers natural gas through regulated sales and transportation arrangements to over three million residential, commercial, public authority and industrial customers in nine states located primarily in the South.
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