Atmos Energy Co. (NYSE:ATO) Declares Quarterly Dividend of $0.87

Atmos Energy Co. (NYSE:ATO) announced a quarterly dividend on Wednesday, November 6th,RTT News reports. Stockholders of record on Monday, November 25th will be given a dividend of 0.87 per share by the utilities provider on Monday, December 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, November 25th. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.81.

Atmos Energy has increased its dividend by an average of 8.8% per year over the last three years and has increased its dividend annually for the last 41 consecutive years. Atmos Energy has a payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atmos Energy to earn $7.67 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 45.4%.

Atmos Energy Price Performance

NYSE:ATO opened at $150.05 on Friday. The company has a quick ratio of 1.57, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $141.02 and its 200 day moving average price is $128.79. Atmos Energy has a 52-week low of $110.46 and a 52-week high of $151.24. The firm has a market cap of $23.32 billion, a P/E ratio of 21.84, a PEG ratio of 3.01 and a beta of 0.68.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ATO. Morgan Stanley lowered their price objective on shares of Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday. LADENBURG THALM/SH SH upped their price target on Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group assumed coverage on Atmos Energy in a report on Wednesday, October 2nd. They set a “hold” rating and a $155.00 target price for the company. 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 company has an average rating of “Moderate Buy” and a consensus price target of $144.31.

Insider Activity at Atmos Energy

In related news, Director Edward Geiser acquired 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the purchase, the director now owns 2,602 shares in the company, valued at $377,003.78. This represents a 2,450.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.

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.