Redmond Asset Management LLC Makes New $275,000 Investment in Atmos Energy Co. (NYSE:ATO)

Redmond Asset Management LLC purchased a new stake in Atmos Energy Co. (NYSE:ATO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,975 shares of the utilities provider’s stock, valued at approximately $275,000.

Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC boosted its stake in Atmos Energy by 12.7% in the third quarter. Private Advisor Group LLC now owns 9,540 shares of the utilities provider’s stock valued at $1,323,000 after acquiring an additional 1,074 shares during the period. Greenleaf Trust lifted its holdings in shares of Atmos Energy by 7.7% in the 3rd quarter. Greenleaf Trust now owns 2,438 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 175 shares during the last quarter. Hartford Investment Management Co. boosted its position in Atmos Energy by 1.4% during the 3rd quarter. Hartford Investment Management Co. now owns 9,813 shares of the utilities provider’s stock valued at $1,361,000 after purchasing an additional 140 shares during the period. International Assets Investment Management LLC bought a new position in Atmos Energy during the 3rd quarter worth $175,380,000. Finally, IFM Investors Pty Ltd increased its position in Atmos Energy by 2.7% in the third quarter. IFM Investors Pty Ltd now owns 52,522 shares of the utilities provider’s stock worth $7,285,000 after buying an additional 1,377 shares during the period. Institutional investors own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ATO shares. StockNews.com downgraded shares of Atmos Energy from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America initiated coverage on shares of Atmos Energy in a research note on Friday, December 13th. They set a “buy” rating and a $156.00 target price for the company. Mizuho raised their price target 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. Argus raised Atmos Energy from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Friday, December 20th. Finally, Morgan Stanley decreased their price objective on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Atmos Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.75.

Atmos Energy Price Performance

Shares of NYSE:ATO opened at $149.87 on Friday. The stock’s 50 day moving average price is $141.95 and its 200 day moving average price is $139.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.56 and a quick ratio of 1.43. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.90 and a beta of 0.72. Atmos Energy Co. has a 12 month low of $110.97 and a 12 month high of $152.65.

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

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 25th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, February 25th. Atmos Energy’s payout ratio is 49.57%.

About Atmos Energy

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.