Pinnacle Financial Partners Inc Decreases Stock Position in Atmos Energy Co. (NYSE:ATO)

Pinnacle Financial Partners Inc lowered its position in shares of Atmos Energy Co. (NYSE:ATO) by 20.5% during the third quarter, HoldingsChannel reports. The firm owned 2,837 shares of the utilities provider’s stock after selling 730 shares during the period. Pinnacle Financial Partners Inc’s holdings in Atmos Energy were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Atmos Energy during the 2nd quarter worth $37,000. PFS Partners LLC acquired a new stake in shares of Atmos Energy during the third quarter valued at about $69,000. GAMMA Investing LLC increased its position in shares of Atmos Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock worth $91,000 after acquiring an additional 335 shares during the last quarter. Covestor Ltd increased its holdings in Atmos Energy by 248.5% during the 1st quarter. Covestor Ltd now owns 805 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 574 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Atmos Energy by 50.8% in the 3rd quarter. Allworth Financial LP now owns 992 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 334 shares in the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on ATO shares. Jefferies Financial Group initiated coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 price target for the company. LADENBURG THALM/SH SH boosted their target price on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Barclays increased 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 report on Monday, October 7th. Morgan Stanley boosted their price objective on Atmos Energy from $128.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.94.

Atmos Energy Stock Performance

Shares of NYSE ATO opened at $144.37 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $139.18 and its two-hundred day moving average price is $127.47. Atmos Energy Co. has a 52-week low of $110.46 and a 52-week high of $148.39. The stock has a market capitalization of $22.41 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.94 and a beta of 0.68.

Atmos Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.87 dividend. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, November 25th. This represents a $3.48 annualized dividend and a dividend yield of 2.41%. Atmos Energy’s dividend payout ratio (DPR) is 46.87%.

Insider Activity at Atmos Energy

In other news, Director Edward Geiser acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the transaction, the director now directly owns 2,602 shares in the company, valued at $377,003.78. This trade represents a 2,450.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.