Atmos Energy (NYSE:ATO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Atmos Energy (NYSE:ATO) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03, Briefing.com reports. The firm had revenue of $701.55 million for the quarter, compared to analysts’ expectations of $924.75 million. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. During the same quarter last year, the business posted $0.94 EPS. Atmos Energy updated its FY24 guidance to $6.70-6.80 EPS and its FY 2024 guidance to 6.800-6.800 EPS.

Atmos Energy Trading Up 0.9 %

ATO traded up $1.10 during mid-day trading on Friday, reaching $128.05. The stock had a trading volume of 674,463 shares, compared to its average volume of 915,837. The stock has a market capitalization of $19.32 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.74 and a beta of 0.67. Atmos Energy has a 52 week low of $101.00 and a 52 week high of $132.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.36. The firm’s fifty day simple moving average is $119.93 and its two-hundred day simple moving average is $117.00.

Atmos Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be issued a $0.805 dividend. The ex-dividend date is Monday, August 26th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.51%. Atmos Energy’s payout ratio is presently 48.28%.

Insider Activity

In other news, Director Diana J. Walters sold 400 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $118.00, for a total value of $47,200.00. Following the completion of the transaction, the director now directly owns 3,551 shares in the company, valued at approximately $419,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ATO shares. Mizuho lifted their price objective on Atmos Energy from $133.00 to $138.00 and gave the company a “buy” rating in a report on Monday, May 13th. Barclays boosted their price target on Atmos Energy from $121.00 to $129.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. UBS Group initiated coverage on Atmos Energy in a research note on Friday, April 12th. They issued a “neutral” rating and a $124.00 price objective on the stock. Morgan Stanley reduced their price objective on Atmos Energy from $122.00 to $119.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Wells Fargo & Company boosted their target price on Atmos Energy from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Atmos Energy has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

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.