Morgan Stanley Has Lowered Expectations for Atmos Energy (NYSE:ATO) Stock Price

Atmos Energy (NYSE:ATO) had its price target decreased by Morgan Stanley from $145.00 to $143.00 in a research note issued to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages also recently commented on ATO. JPMorgan Chase & Co. increased their price target on Atmos Energy from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group assumed coverage on Atmos Energy in a research report on Wednesday, October 2nd. They set a “hold” rating and a $155.00 price target for the company. Barclays increased their price target on Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised Atmos Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH increased their price target on Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Atmos Energy currently has an average rating of “Moderate Buy” and a consensus price target of $144.31.

Atmos Energy Stock Down 0.1 %

ATO stock opened at $150.05 on Friday. Atmos Energy has a twelve month low of $110.46 and a twelve month high of $151.24. 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 stock’s 50 day moving average is $140.75 and its 200-day moving average is $128.57. The firm has a market capitalization of $23.32 billion, a PE ratio of 21.84, a P/E/G ratio of 2.94 and a beta of 0.68.

Atmos Energy Increases Dividend

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

Insiders Place Their Bets

In related news, Director Edward Geiser purchased 2,500 shares of Atmos Energy stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the completion of the transaction, the director now owns 2,602 shares in the company, valued at $377,003.78. This trade 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 is accessible through this link. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Atmos Energy

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Atmos Energy by 10.8% during the third quarter. Wellington Management Group LLP now owns 13,745,352 shares of the utilities provider’s stock valued at $1,906,618,000 after buying an additional 1,341,640 shares during the period. State Street Corp boosted its stake in Atmos Energy by 3.5% during the third quarter. State Street Corp now owns 10,800,610 shares of the utilities provider’s stock valued at $1,498,153,000 after buying an additional 362,594 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Atmos Energy by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,550,227 shares of the utilities provider’s stock valued at $180,834,000 after buying an additional 19,981 shares during the period. Cooke & Bieler LP boosted its stake in Atmos Energy by 4.6% during the second quarter. Cooke & Bieler LP now owns 1,521,696 shares of the utilities provider’s stock valued at $177,506,000 after buying an additional 66,345 shares during the period. Finally, Sfmg LLC boosted its stake in Atmos Energy by 0.9% during the second quarter. Sfmg LLC now owns 1,059,221 shares of the utilities provider’s stock valued at $123,558,000 after buying an additional 9,253 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

Atmos Energy Company 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.