Kentucky Retirement Systems Trims Stock Position in Atmos Energy Co. (NYSE:ATO)

Kentucky Retirement Systems lessened its stake in Atmos Energy Co. (NYSE:ATO) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,814 shares of the utilities provider’s stock after selling 556 shares during the period. Kentucky Retirement Systems’ holdings in Atmos Energy were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Atmos Energy during the second quarter valued at $37,000. PFS Partners LLC acquired a new stake in shares of Atmos Energy during the 3rd quarter valued at about $69,000. GAMMA Investing LLC increased its stake in shares of Atmos Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock valued at $91,000 after purchasing an additional 335 shares in the last quarter. Covestor Ltd raised its holdings in Atmos Energy by 248.5% in 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 period. Finally, First Horizon Advisors Inc. boosted its position in Atmos Energy by 158.3% during the second quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ATO. LADENBURG THALM/SH SH increased their target price on Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price 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. 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 price target on the stock. Finally, Morgan Stanley boosted their price objective on Atmos Energy from $128.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Atmos Energy currently has a consensus rating of “Moderate Buy” and an average price target of $143.94.

Insider Activity

In other Atmos Energy news, Director Edward Geiser purchased 2,500 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $144.89 per share, for a total transaction of $362,225.00. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Atmos Energy Trading Up 1.4 %

Shares of ATO opened at $146.97 on Tuesday. Atmos Energy Co. has a 12-month low of $110.46 and a 12-month high of $148.39. The firm has a market capitalization of $22.81 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.90 and a beta of 0.68. The firm has a 50-day moving average price of $139.73 and a 200 day moving average price of $127.90. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.65.

Atmos Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.87 dividend. This is a boost from Atmos Energy’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, November 25th. This represents a $3.48 annualized dividend and a dividend yield of 2.37%. Atmos Energy’s dividend payout ratio is 46.87%.

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.