Magellan Asset Management Ltd Sells 20,009 Shares of Atmos Energy Co. (NYSE:ATO)

Magellan Asset Management Ltd lessened its holdings in Atmos Energy Co. (NYSE:ATO) by 14.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 118,171 shares of the utilities provider’s stock after selling 20,009 shares during the period. Magellan Asset Management Ltd’s holdings in Atmos Energy were worth $16,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Atmos Energy during the 4th quarter worth about $206,538,000. Wellington Management Group LLP lifted its holdings in shares of Atmos Energy by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 13,745,352 shares of the utilities provider’s stock valued at $1,906,618,000 after purchasing an additional 1,341,640 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Atmos Energy in the 4th quarter worth $112,002,000. Nilsine Partners LLC acquired a new stake in shares of Atmos Energy in the fourth quarter valued at approximately $76,360,000. Finally, State Street Corp grew its holdings in shares of Atmos Energy by 3.5% in the 3rd quarter. State Street Corp now owns 10,800,610 shares of the utilities provider’s stock valued at $1,498,153,000 after acquiring an additional 362,594 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ATO shares. Morgan Stanley raised their target price on shares of Atmos Energy from $142.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Bank of America started coverage on Atmos Energy in a research note on Friday, December 13th. They issued a “buy” rating and a $156.00 price target for the company. Argus raised shares of Atmos Energy from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, December 20th. StockNews.com downgraded Atmos Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Wolfe Research assumed coverage on Atmos Energy in a report on Monday. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Atmos Energy presently has an average rating of “Moderate Buy” and an average target price of $149.15.

Atmos Energy Stock Performance

Shares of ATO stock opened at $155.38 on Thursday. Atmos Energy Co. has a 52 week low of $110.97 and a 52 week high of $155.66. The company has a quick ratio of 1.43, a current ratio of 1.56 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $147.74 and a 200 day moving average of $143.64. The firm has a market capitalization of $24.66 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.94 and a beta of 0.67.

Atmos Energy (NYSE:ATO) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.03. Atmos Energy had a net margin of 25.90% and a return on equity of 8.89%. As a group, research analysts expect that Atmos Energy Co. will post 7.18 earnings per share for the current year.

Atmos Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 25th were given a $0.87 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.24%. Atmos Energy’s payout ratio is currently 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.