Atmos Energy Co. (NYSE:ATO) Declares Dividend Increase – $0.87 Per Share

Atmos Energy Co. (NYSE:ATO) declared a quarterly dividend on Wednesday, November 6th,RTT News reports. Investors 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 yield of 2.32%. The ex-dividend date is Monday, November 25th. This is a boost 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 raised 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. Equities 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 Stock Performance

ATO stock opened at $150.05 on Friday. The firm has a 50 day moving average of $141.02 and a two-hundred day moving average of $128.79. Atmos Energy has a 12 month low of $110.46 and a 12 month high of $151.24. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 3.01 and a beta of 0.68. The company has a quick ratio of 1.57, a current ratio of 0.94 and a debt-to-equity ratio of 0.65.

Insider Transactions at Atmos Energy

In related news, Director Edward Geiser bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ATO. Morgan Stanley lowered their target price on shares of Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com raised Atmos Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. 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 report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Atmos Energy from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.31.

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.