Vestcor Inc Cuts Stake in Atmos Energy Co. (NYSE:ATO)

Vestcor Inc cut its holdings in Atmos Energy Co. (NYSE:ATO) by 25.6% in the third quarter, Holdings Channel reports. The fund owned 4,936 shares of the utilities provider’s stock after selling 1,696 shares during the quarter. Vestcor Inc’s holdings in Atmos Energy were worth $685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its stake in Atmos Energy by 1,542.9% in the third quarter. Dunhill Financial LLC now owns 230 shares of the utilities provider’s stock worth $32,000 after buying an additional 216 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Atmos Energy during the 2nd quarter worth $37,000. PFS Partners LLC bought a new stake in Atmos Energy during the third quarter valued at about $69,000. First Horizon Advisors Inc. grew its stake in Atmos Energy by 158.3% in the second quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 611 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Atmos Energy by 17.9% in the third quarter. GAMMA Investing LLC now owns 917 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 139 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors.

Atmos Energy Stock Performance

Shares of NYSE ATO opened at $140.21 on Friday. Atmos Energy Co. has a 1 year low of $110.46 and a 1 year high of $152.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.80 and a current ratio of 0.94. The company’s fifty day moving average price is $143.29 and its 200 day moving average price is $131.52. The company has a market capitalization of $21.79 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.84 and a beta of 0.70.

Atmos Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.87 per share. The ex-dividend date was Monday, November 25th. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.48%. Atmos Energy’s dividend payout ratio (DPR) is 50.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. LADENBURG THALM/SH SH lifted their price target on shares of Atmos Energy from $144.00 to $150.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley dropped their target price on Atmos Energy from $145.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They issued a “hold” rating and a $155.00 target price for the company. StockNews.com upgraded shares of Atmos Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atmos Energy presently has an average rating of “Moderate Buy” and an average price target of $147.69.

Insider Activity at Atmos Energy

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

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.