State of Michigan Retirement System Reduces Stock Holdings in Atmos Energy Corporation $ATO

State of Michigan Retirement System lowered its position in shares of Atmos Energy Corporation (NYSE:ATO) by 3.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 50,810 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. State of Michigan Retirement System’s holdings in Atmos Energy were worth $7,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATO. First Horizon Advisors Inc. lifted its position in Atmos Energy by 191.2% during the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 109 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Atmos Energy by 141.2% in the 1st quarter. Brooklyn Investment Group now owns 234 shares of the utilities provider’s stock valued at $36,000 after buying an additional 137 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of Atmos Energy by 50.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. Bogart Wealth LLC increased its stake in shares of Atmos Energy by 11,200.0% in the 2nd quarter. Bogart Wealth LLC now owns 339 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 336 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Atmos Energy by 26.0% in the 1st quarter. Private Trust Co. NA now owns 378 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

Atmos Energy Trading Up 0.7%

NYSE:ATO opened at $172.92 on Tuesday. The firm has a market cap of $27.76 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.74. The stock has a fifty day moving average price of $169.99 and a 200 day moving average price of $161.71. Atmos Energy Corporation has a 12-month low of $136.05 and a 12-month high of $179.70. The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67.

Atmos Energy (NYSE:ATO) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Atmos Energy had a net margin of 25.05% and a return on equity of 9.00%. The business had revenue of $838.77 million during the quarter, compared to analyst estimates of $848.97 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Atmos Energy Corporation will post 7.18 earnings per share for the current fiscal year.

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were paid a $0.87 dividend. The ex-dividend date was Monday, August 25th. This represents a $3.48 dividend on an annualized basis and a yield of 2.0%. Atmos Energy’s dividend payout ratio (DPR) is currently 47.80%.

Wall Street Analyst Weigh In

Several research firms have commented on ATO. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $163.00 price objective (down from $171.00) on shares of Atmos Energy in a research note on Friday, August 8th. Morgan Stanley raised their price target on Atmos Energy from $167.00 to $181.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. TD Cowen upgraded Atmos Energy to a “hold” rating in a research report on Wednesday, October 15th. Bank of America restated a “neutral” rating and set a $185.00 price target (up from $182.00) on shares of Atmos Energy in a research report on Thursday, October 16th. Finally, UBS Group restated a “neutral” rating and set a $159.00 price target (up from $146.00) on shares of Atmos Energy in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Atmos Energy currently has an average rating of “Hold” and an average price target of $170.44.

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.