Atmos Energy Co. (NYSE:ATO) to Issue Dividend Increase – $0.68 Per Share

Atmos Energy Co. (NYSE:ATO) announced a quarterly dividend on Wednesday, November 10th, RTT News reports. Investors of record on Monday, November 29th will be given a dividend of 0.68 per share by the utilities provider on Monday, December 13th. This represents a $2.72 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, November 26th. This is an increase from Atmos Energy’s previous quarterly dividend of $0.63.

Atmos Energy has increased its dividend payment by 28.1% over the last three years and has raised its dividend annually for the last 34 consecutive years. Atmos Energy has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Atmos Energy to earn $5.81 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 46.8%.

ATO stock opened at $95.31 on Wednesday. The firm has a 50 day moving average of $91.83 and a 200 day moving average of $96.43. The stock has a market capitalization of $12.62 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.62. Atmos Energy has a 52 week low of $84.59 and a 52 week high of $104.99.

Atmos Energy (NYSE:ATO) last announced its quarterly earnings data on Wednesday, November 10th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. Atmos Energy had a net margin of 19.53% and a return on equity of 8.67%. The business had revenue of $568.38 million during the quarter, compared to analysts’ expectations of $622.75 million. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts expect that Atmos Energy will post 5.45 earnings per share for the current year.

An institutional investor recently bought a new position in Atmos Energy stock. Jane Street Group LLC purchased a new stake in Atmos Energy Co. (NYSE:ATO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,443 shares of the utilities provider’s stock, valued at approximately $1,450,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the stock. TheStreet cut shares of Atmos Energy from a “b” rating to a “c+” rating in a research note on Tuesday, September 7th. Morgan Stanley decreased their target price on shares of Atmos Energy from $123.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, October 19th. Zacks Investment Research upgraded shares of Atmos Energy from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Monday, September 6th. Mizuho boosted their target price on shares of Atmos Energy from $109.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 17th. Finally, Argus lowered shares of Atmos Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $111.25.

About Atmos Energy

Atmos Energy Corp. engages in the regulated natural gas distribution and pipeline and storage businesses. It operates through the Distribution, and Pipeline and Storage business segments. The Distribution segment comprises regulated natural gas distribution and related sales operations. The Pipeline and Storage segment includes the pipeline and storage operations of Atmos Pipeline-Texas division and natural gas transmission operations in Louisiana.

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Dividend History for Atmos Energy (NYSE:ATO)

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