Bridges Investment Management Inc. Cuts Stake in Atmos Energy Co. (NYSE:ATO)

Bridges Investment Management Inc. reduced its position in Atmos Energy Co. (NYSE:ATO) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,040 shares of the utilities provider’s stock after selling 1,613 shares during the quarter. Bridges Investment Management Inc.’s holdings in Atmos Energy were worth $980,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new stake in shares of Atmos Energy in the 4th quarter valued at about $28,000. Dunhill Financial LLC increased its holdings in Atmos Energy by 1,542.9% during the third quarter. Dunhill Financial LLC now owns 230 shares of the utilities provider’s stock valued at $32,000 after buying an additional 216 shares during the period. ST Germain D J Co. Inc. increased its holdings in Atmos Energy by 50.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 300 shares of the utilities provider’s stock valued at $42,000 after buying an additional 100 shares during the period. PFS Partners LLC bought a new position in Atmos Energy in the third quarter worth approximately $69,000. Finally, Keystone Financial Group Inc. purchased a new stake in Atmos Energy during the fourth quarter worth $79,000. 90.17% of the stock is owned by hedge funds and other institutional investors.

Atmos Energy Stock Performance

ATO opened at $152.30 on Monday. The company has a market cap of $24.17 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 2.94 and a beta of 0.72. The company has a quick ratio of 1.43, a current ratio of 1.56 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $143.10 and its 200-day moving average price is $140.56. Atmos Energy Co. has a 52-week low of $110.97 and a 52-week high of $152.65.

Atmos Energy (NYSE:ATO) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.03. Atmos Energy had a net margin of 25.90% and a return on equity of 8.89%. As a group, equities analysts anticipate that Atmos Energy Co. will post 7.18 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 25th will be paid a $0.87 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $3.48 dividend on an annualized basis and a yield of 2.28%. Atmos Energy’s dividend payout ratio (DPR) is 49.57%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ATO. Mizuho lifted their price target on Atmos Energy from $148.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Bank of America began coverage on Atmos Energy in a research note on Friday, December 13th. They issued a “buy” rating and a $156.00 target price on the stock. Morgan Stanley decreased their price target on shares of Atmos Energy from $145.00 to $143.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Argus raised shares of Atmos Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Friday, December 20th. Finally, StockNews.com cut shares of Atmos Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.75.

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.