Dearborn Partners LLC Lowers Position in Atmos Energy Co. (NYSE:ATO)

Dearborn Partners LLC lowered its holdings in shares of Atmos Energy Co. (NYSE:ATO - Free Report) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,285 shares of the utilities provider's stock after selling 6,082 shares during the period. Atmos Energy makes up about 1.5% of Dearborn Partners LLC's holdings, making the stock its 26th biggest position. Dearborn Partners LLC owned 0.18% of Atmos Energy worth $38,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. M&G Plc bought a new stake in Atmos Energy in the first quarter valued at $32,941,000. Renaissance Technologies LLC increased its holdings in shares of Atmos Energy by 1,532.1% during the second quarter. Renaissance Technologies LLC now owns 218,700 shares of the utilities provider's stock valued at $25,511,000 after acquiring an additional 205,300 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Atmos Energy by 36.7% during the second quarter. Hsbc Holdings PLC now owns 730,759 shares of the utilities provider's stock worth $85,240,000 after purchasing an additional 196,163 shares during the period. AQR Capital Management LLC raised its position in shares of Atmos Energy by 45.7% during the second quarter. AQR Capital Management LLC now owns 444,267 shares of the utilities provider's stock worth $51,544,000 after purchasing an additional 139,429 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Atmos Energy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 19,472,036 shares of the utilities provider's stock worth $2,314,641,000 after purchasing an additional 127,199 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ATO. Morgan Stanley boosted their price objective on Atmos Energy from $128.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Wells Fargo & Company raised their price objective on Atmos Energy from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of Atmos Energy in a report on Wednesday, October 2nd. They issued a "hold" rating and a $155.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Atmos Energy from $134.00 to $144.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Atmos Energy from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.94.

Insider Buying and Selling at Atmos Energy

In related news, Director Edward Geiser purchased 2,500 shares of Atmos Energy stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the completion of the purchase, the director now directly owns 2,602 shares of the company's stock, valued at $377,003.78. The trade was a 2,450.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Atmos Energy Price Performance

Shares of NYSE ATO traded up $0.58 during mid-day trading on Friday, reaching $144.92. 770,686 shares of the company were exchanged, compared to its average volume of 873,017. The stock has a market capitalization of $22.50 billion, a PE ratio of 21.01, a PEG ratio of 2.93 and a beta of 0.68. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. Atmos Energy Co. has a 52 week low of $110.46 and a 52 week high of $148.39. The company's 50 day moving average price is $139.18 and its 200 day moving average price is $127.47.

Atmos Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, November 25th. This is a positive change from Atmos Energy's previous quarterly dividend of $0.81. Atmos Energy's dividend payout ratio is 46.87%.

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.