Atmos Energy (NYSE:ATO) Now Covered by Analysts at Wells Fargo & Co

Wells Fargo & Co initiated coverage on shares of Atmos Energy (NYSE:ATO) in a report issued on Monday morning, Benzinga reports. The firm issued an outperform rating and a $119.00 price target on the utilities provider’s stock.

Separately, Zacks Investment Research upgraded shares of Hope Bancorp from a sell rating to a hold rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Atmos Energy presently has a consensus rating of Buy and an average price target of $103.89.

ATO stock opened at $108.41 on Monday. The firm’s 50 day moving average is $105.28. Atmos Energy has a 12-month low of $87.88 and a 12-month high of $108.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.69 and a current ratio of 0.78. The firm has a market cap of $12.63 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 3.84 and a beta of 0.25.

Atmos Energy (NYSE:ATO) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. Atmos Energy had a net margin of 16.19% and a return on equity of 9.60%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm earned $1.57 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts expect that Atmos Energy will post 4.33 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of ATO. Valeo Financial Advisors LLC raised its holdings in Atmos Energy by 1,666.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 265 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 250 shares during the last quarter. Hexavest Inc. acquired a new position in Atmos Energy in the 2nd quarter valued at $27,000. Cornerstone Advisors Inc. raised its holdings in Atmos Energy by 105.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 285 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Lenox Wealth Management Inc. acquired a new position in Atmos Energy in the 1st quarter valued at $31,000. Finally, Phocas Financial Corp. acquired a new position in Atmos Energy in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.

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 Distribution, and Pipeline and Storage segments. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states.

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Analyst Recommendations for Atmos Energy (NYSE:ATO)

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