Morgan Stanley Has Lowered Expectations for Atmos Energy (NYSE:ATO) Stock Price

Atmos Energy (NYSE:ATO) had its target price cut by Morgan Stanley from $145.00 to $143.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 4.70% from the company’s previous close.

A number of other research firms have also recently commented on ATO. StockNews.com raised Atmos Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group assumed coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They set a “hold” rating and a $155.00 target price for the company. LADENBURG THALM/SH SH raised their price target on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Barclays boosted their price objective on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.31.

Atmos Energy Price Performance

ATO stock opened at $150.05 on Friday. The company has a current ratio of 0.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.65. Atmos Energy has a 12 month low of $110.46 and a 12 month high of $151.24. The stock has a market cap of $23.32 billion, a PE ratio of 21.84, a P/E/G ratio of 3.01 and a beta of 0.68. The company has a 50-day moving average price of $141.02 and a 200 day moving average price of $128.79.

Insiders Place Their Bets

In other news, Director Edward Geiser acquired 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $144.89 per share, with a total value of $362,225.00. Following the transaction, the director now directly owns 2,602 shares in the company, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atmos Energy

Several institutional investors have recently bought and sold shares of ATO. Wellington Management Group LLP lifted its holdings in shares of Atmos Energy by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 13,745,352 shares of the utilities provider’s stock valued at $1,906,618,000 after purchasing an additional 1,341,640 shares during the last quarter. State Street Corp grew its stake in Atmos Energy by 3.5% during the 3rd quarter. State Street Corp now owns 10,800,610 shares of the utilities provider’s stock worth $1,498,153,000 after buying an additional 362,594 shares during the last quarter. Benjamin Edwards Inc. increased its position in Atmos Energy by 2,212.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 291,572 shares of the utilities provider’s stock valued at $40,446,000 after buying an additional 278,961 shares in the last quarter. Jennison Associates LLC purchased a new stake in Atmos Energy in the third quarter valued at about $32,221,000. Finally, Renaissance Technologies LLC boosted its holdings in Atmos Energy by 1,532.1% in the second quarter. Renaissance Technologies LLC now owns 218,700 shares of the utilities provider’s stock worth $25,511,000 after acquiring an additional 205,300 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.