Portfolio Design Labs LLC Has $1.63 Million Position in Atmos Energy Co. (NYSE:ATO)

Portfolio Design Labs LLC trimmed its position in shares of Atmos Energy Co. (NYSE:ATO - Free Report) by 46.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,730 shares of the utilities provider's stock after selling 10,124 shares during the period. Portfolio Design Labs LLC's holdings in Atmos Energy were worth $1,627,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ATO. Innealta Capital LLC purchased a new stake in shares of Atmos Energy during the second quarter worth $37,000. PFS Partners LLC purchased a new position in shares of Atmos Energy during the third quarter worth about $69,000. GAMMA Investing LLC grew its holdings in shares of Atmos Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider's stock worth $91,000 after purchasing an additional 335 shares during the last quarter. Covestor Ltd grew its holdings in shares of Atmos Energy by 248.5% during the first quarter. Covestor Ltd now owns 805 shares of the utilities provider's stock worth $96,000 after purchasing an additional 574 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Atmos Energy by 50.8% during the third quarter. Allworth Financial LP now owns 992 shares of the utilities provider's stock worth $138,000 after purchasing an additional 334 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATO has been the subject of several recent research reports. Barclays increased their target price on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Jefferies Financial Group assumed coverage on shares of Atmos Energy in a research report on Wednesday, October 2nd. They issued a "hold" rating and a $155.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Atmos Energy from $145.00 to $156.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH raised their price objective on shares of Atmos Energy from $144.00 to $150.50 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $143.94.

Atmos Energy Price Performance

Shares of NYSE ATO traded up $0.40 during trading on Wednesday, hitting $147.18. The company had a trading volume of 720,698 shares, compared to its average volume of 877,456. The company has a market cap of $22.85 billion, a P/E ratio of 21.32, a PEG ratio of 2.90 and a beta of 0.68. Atmos Energy Co. has a 52 week low of $110.46 and a 52 week high of $148.39. The business's 50-day moving average is $140.20 and its 200 day moving average is $128.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.57 and a current ratio of 1.73.

Atmos Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.87 per share. This is a boost from Atmos Energy's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, November 25th. Atmos Energy's payout ratio is currently 50.66%.

Insider Activity

In related news, Director Edward Geiser purchased 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the acquisition, the director now directly owns 2,602 shares in the company, valued at approximately $377,003.78. The trade was a 2,450.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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 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.