Intech Investment Management LLC Cuts Holdings in Atmos Energy Co. (NYSE:ATO)

Intech Investment Management LLC lowered its stake in shares of Atmos Energy Co. (NYSE:ATO) by 27.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,794 shares of the utilities provider’s stock after selling 8,350 shares during the quarter. Intech Investment Management LLC’s holdings in Atmos Energy were worth $3,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Atmos Energy during the second quarter valued at about $37,000. PFS Partners LLC bought a new position in shares of Atmos Energy during the 3rd quarter valued at about $69,000. GAMMA Investing LLC raised its holdings in shares of Atmos Energy by 75.6% during the 2nd quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock valued at $91,000 after buying an additional 335 shares in the last quarter. Allworth Financial LP lifted its position in Atmos Energy by 50.8% in the 3rd quarter. Allworth Financial LP now owns 992 shares of the utilities provider’s stock worth $138,000 after buying an additional 334 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Atmos Energy by 158.3% in the second quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock worth $116,000 after buying an additional 611 shares in the last quarter. 90.17% of the stock is owned by institutional investors.

Atmos Energy Stock Performance

Atmos Energy stock opened at $150.05 on Friday. The company has a current ratio of 0.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.65. The firm has a market cap of $23.32 billion, a P/E ratio of 21.84, a P/E/G ratio of 3.01 and a beta of 0.68. Atmos Energy Co. has a 1-year low of $110.46 and a 1-year high of $151.24. The firm has a 50-day moving average of $141.02 and a 200-day moving average of $128.79.

Atmos Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a $0.87 dividend. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, November 25th. Atmos Energy’s dividend payout ratio (DPR) is currently 46.87%.

Insider Activity

In related news, Director Edward Geiser bought 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $144.89 per share, with a total value of $362,225.00. Following the transaction, the director now owns 2,602 shares in the company, valued at approximately $377,003.78. This trade represents a 2,450.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

ATO has been the topic of several research reports. Barclays lifted their price target on shares of Atmos Energy from $129.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on Atmos Energy in a research note on Wednesday, October 2nd. They set a “hold” rating and a $155.00 price objective on the stock. LADENBURG THALM/SH SH boosted their target price on Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their target price on Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Atmos Energy currently has a consensus rating of “Moderate Buy” and an average target price of $144.31.

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.