Summit Wealth Group LLC Co. Acquires New Position in Atmos Energy Corporation $ATO

Summit Wealth Group LLC Co. bought a new position in shares of Atmos Energy Corporation (NYSE:ATO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,377 shares of the utilities provider’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC increased its stake in shares of Atmos Energy by 5.1% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 1,309 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 63 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Atmos Energy during the 3rd quarter worth $9,428,000. ProShare Advisors LLC raised its holdings in shares of Atmos Energy by 4.4% during the 3rd quarter. ProShare Advisors LLC now owns 965,250 shares of the utilities provider’s stock worth $151,004,000 after buying an additional 40,425 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Atmos Energy during the 3rd quarter worth $335,000. Finally, Americana Partners LLC bought a new stake in shares of Atmos Energy during the 3rd quarter worth $374,000. 90.17% of the stock is currently owned by institutional investors.

Atmos Energy Stock Performance

NYSE ATO opened at $173.72 on Wednesday. The firm’s fifty day moving average price is $164.43 and its two-hundred day moving average price is $174.16. The stock has a market cap of $29.36 billion, a PE ratio of 20.68, a PEG ratio of 2.78 and a beta of 0.56. Atmos Energy Corporation has a fifty-two week low of $154.72 and a fifty-two week high of $192.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.73 and a current ratio of 0.81.

Atmos Energy (NYSE:ATO) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. Atmos Energy had a net margin of 28.50% and a return on equity of 9.67%. The company had revenue of $879.06 million during the quarter, compared to the consensus estimate of $900.82 million. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts expect that Atmos Energy Corporation will post 8.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ATO shares. JPMorgan Chase & Co. lowered Atmos Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $198.00 to $180.00 in a research note on Friday, September 11th. Morgan Stanley boosted their target price on Atmos Energy from $179.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Wells Fargo & Company began coverage on Atmos Energy in a research note on Monday, July 13th. They set an “overweight” rating and a $200.00 target price for the company. Truist Financial dropped their target price on shares of Atmos Energy from $179.00 to $174.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Finally, Jefferies Financial Group reduced their price target on shares of Atmos Energy from $173.00 to $167.00 and set a “hold” rating on the stock in a research note on Thursday, October 1st. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Atmos Energy has an average rating of “Hold” and a consensus target price of $183.27.

Insider Buying and Selling at Atmos Energy

In other news, Director William Ware acquired 300 shares of Atmos Energy stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $167.59 per share, for a total transaction of $50,277.00. Following the transaction, the director directly owned 488 shares of the company’s stock, valued at approximately $81,783.92. The trade was a 159.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by company insiders.

About Atmos Energy

Atmos Energy Corporation (NYSE:ATO) is a regulated natural gas utility that distributes natural gas to residential, commercial, industrial and agricultural customers. The company also operates natural gas pipeline and storage assets, supporting the transportation and management of gas within its service areas.

Atmos Energy serves more than 3 million distribution customers across eight states, including Texas, Louisiana, Mississippi, Tennessee, Kentucky, Virginia, Kansas and Colorado. Its distribution operations include a large network of natural gas pipelines and related infrastructure, while its pipeline and storage business provides transportation and storage services primarily in Texas and Mississippi.

The company traces its history to 1906 and is headquartered in Dallas, Texas.