The Manufacturers Life Insurance Company Raises Stake in Atmos Energy Co. (NYSE:ATO)

The Manufacturers Life Insurance Company boosted its holdings in Atmos Energy Co. (NYSE:ATO) by 12.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,776 shares of the utilities provider’s stock after purchasing an additional 12,269 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Atmos Energy worth $15,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Atria Investments Inc boosted its position in shares of Atmos Energy by 1.3% in the 3rd quarter. Atria Investments Inc now owns 31,399 shares of the utilities provider’s stock worth $4,355,000 after purchasing an additional 402 shares in the last quarter. Swedbank AB grew its stake in shares of Atmos Energy by 565.3% in the second quarter. Swedbank AB now owns 40,621 shares of the utilities provider’s stock worth $4,738,000 after acquiring an additional 34,515 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Atmos Energy by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,721 shares of the utilities provider’s stock valued at $48,960,000 after acquiring an additional 14,440 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Atmos Energy by 7.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 323,614 shares of the utilities provider’s stock worth $37,750,000 after purchasing an additional 22,531 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Atmos Energy by 52.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 25,568 shares of the utilities provider’s stock worth $2,983,000 after purchasing an additional 8,774 shares in the last quarter. Institutional investors own 90.17% of the company’s stock.

Insider Buying and Selling at Atmos Energy

In other Atmos Energy news, Director Edward Geiser acquired 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the purchase, the director now directly owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. This trade represents a 2,450.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ATO shares. Mizuho raised their price objective on shares of Atmos Energy from $148.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com upgraded shares of Atmos Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price objective on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target on Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.69.

Atmos Energy Price Performance

NYSE ATO opened at $151.32 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.80. Atmos Energy Co. has a 1-year low of $110.46 and a 1-year high of $152.65. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 3.03 and a beta of 0.68. The business’s fifty day moving average price is $142.39 and its 200-day moving average price is $130.08.

Atmos Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.30%. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, November 25th. Atmos Energy’s dividend payout ratio (DPR) is presently 50.66%.

Atmos Energy 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.