Pinnacle Financial Partners Inc Trims Stock Position in Atmos Energy Co. (NYSE:ATO)

Pinnacle Financial Partners Inc trimmed its holdings in shares of Atmos Energy Co. (NYSE:ATO) by 20.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,837 shares of the utilities provider’s stock after selling 730 shares during the period. Pinnacle Financial Partners Inc’s holdings in Atmos Energy were worth $394,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Atmos Energy by 4.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,122 shares of the utilities provider’s stock worth $371,000 after acquiring an additional 131 shares during the last quarter. Russell Investments Group Ltd. increased its position in Atmos Energy by 51.0% during the 1st quarter. Russell Investments Group Ltd. now owns 116,401 shares of the utilities provider’s stock worth $13,832,000 after purchasing an additional 39,289 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Atmos Energy by 2.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,076 shares of the utilities provider’s stock valued at $1,317,000 after purchasing an additional 316 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Atmos Energy by 18.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,314 shares of the utilities provider’s stock valued at $26,902,000 after purchasing an additional 35,197 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Atmos Energy during the 1st quarter worth about $32,941,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Atmos Energy Stock Performance

Shares of NYSE:ATO opened at $144.37 on Friday. The firm has a market capitalization of $22.41 billion, a PE ratio of 21.01, a P/E/G ratio of 2.94 and a beta of 0.68. Atmos Energy Co. has a 12 month low of $110.46 and a 12 month high of $148.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.57. The business has a 50-day moving average of $139.18 and a two-hundred day moving average of $127.47.

Atmos Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.41%. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, November 25th. Atmos Energy’s payout ratio is 46.87%.

Insiders Place Their Bets

In other Atmos Energy news, Director Edward Geiser bought 2,500 shares of Atmos Energy stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the acquisition, the director now owns 2,602 shares of the company’s stock, valued at $377,003.78. The trade was a 2,450.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ATO. Wells Fargo & Company boosted their price objective on shares of Atmos Energy from $145.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on Atmos Energy from $128.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. StockNews.com upgraded Atmos Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.94.

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.