Atmos Energy Corporation (NYSE:ATO) Raises Dividend to $1.09 Per Share

Atmos Energy Corporation (NYSE:ATO) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Monday, November 23rd will be given a dividend of $1.09 per share by the utilities provider on Monday, December 7th. This represents a $4.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, November 23rd. This is a 9.0% increase from Atmos Energy’s previous quarterly dividend of $1.00.

Atmos Energy has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 41 consecutive years. Atmos Energy has a payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Atmos Energy to earn $9.05 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 44.2%.

Atmos Energy Stock Up 1.2%

Shares of NYSE:ATO opened at $175.85 on Thursday. The business’s 50 day simple moving average is $164.59 and its two-hundred day simple moving average is $174.19. The firm has a market cap of $29.72 billion, a P/E ratio of 20.93, a PEG ratio of 2.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.73 and a current ratio of 0.81. Atmos Energy has a 52-week low of $154.72 and a 52-week high of $192.51.

Atmos Energy (NYSE:ATO) last issued its earnings results on Wednesday, November 4th. The utilities provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. Atmos Energy had a return on equity of 9.67% and a net margin of 28.50%. The company had revenue of $837.00 million for the quarter, compared to analyst estimates of $873.77 million. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts forecast that Atmos Energy will post 8.47 EPS for the current fiscal year.

Insider Activity

In other Atmos Energy news, Director William Ware bought 300 shares of the stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $167.59 per share, for a total transaction of $50,277.00. Following the purchase, the director directly owned 488 shares of the company’s stock, valued at approximately $81,783.92. This trade represents a 159.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atmos Energy

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Atmos Energy in the second quarter valued at about $2,624,975,000. Bank of America Corp DE grew its position in shares of Atmos Energy by 11.0% during the 1st quarter. Bank of America Corp DE now owns 4,199,433 shares of the utilities provider’s stock valued at $775,719,000 after acquiring an additional 416,933 shares during the period. Deutsche Bank AG purchased a new stake in shares of Atmos Energy during the 2nd quarter worth approximately $431,677,000. Amundi increased its stake in shares of Atmos Energy by 40.0% during the 2nd quarter. Amundi now owns 1,823,714 shares of the utilities provider’s stock worth $314,171,000 after purchasing an additional 520,828 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Atmos Energy during the 2nd quarter worth approximately $276,558,000. Institutional investors own 90.17% of the company’s stock.

About Atmos Energy

Atmos Energy Corporation (NYSE:ATO) is a regulated natural gas utility that distributes natural gas to residential, commercial, industrial and agricultural customers. The company also operates natural gas pipeline and storage assets, supporting the transportation and management of gas within its service areas.

Atmos Energy serves more than 3 million distribution customers across eight states, including Texas, Louisiana, Mississippi, Tennessee, Kentucky, Virginia, Kansas and Colorado. Its distribution operations include a large network of natural gas pipelines and related infrastructure, while its pipeline and storage business provides transportation and storage services primarily in Texas and Mississippi.

The company traces its history to 1906 and is headquartered in Dallas, Texas.