$642.13 Million in Sales Expected for Atmos Energy Co. (ATO) This Quarter

Brokerages predict that Atmos Energy Co. (NYSE:ATO) will report sales of $642.13 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Atmos Energy’s earnings. The lowest sales estimate is $583.80 million and the highest is $700.45 million. Atmos Energy reported sales of $464.88 million in the same quarter last year, which indicates a positive year-over-year growth rate of 38.1%. The business is scheduled to announce its next earnings report on Monday, November 12th.

According to Zacks, analysts expect that Atmos Energy will report full-year sales of $3.29 billion for the current financial year, with estimates ranging from $3.16 billion to $3.46 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.56 billion, with estimates ranging from $3.32 billion to $3.83 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Atmos Energy.

Atmos Energy (NYSE:ATO) last posted its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.04). The company had revenue of $562.25 million for the quarter, compared to the consensus estimate of $622.30 million. Atmos Energy’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 earnings per share.

ATO has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Atmos Energy from $94.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 13th. Zacks Investment Research downgraded shares of Atmos Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Barclays raised their target price on shares of Atmos Energy from $80.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, July 11th. Citigroup raised their target price on shares of Atmos Energy from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, June 12th. Finally, Seaport Global Securities reissued a “buy” rating and set a $98.00 target price on shares of Atmos Energy in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.43.

In other Atmos Energy news, Director Nancy K. Quinn sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $93.05, for a total transaction of $186,100.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard W. Douglas sold 35,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $93.04, for a total transaction of $3,256,400.00. Following the transaction, the insider now directly owns 6,292 shares in the company, valued at approximately $585,407.68. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ATO. Qube Research & Technologies Ltd bought a new stake in shares of Atmos Energy in the 2nd quarter valued at about $111,000. IBM Retirement Fund bought a new stake in shares of Atmos Energy in the 1st quarter valued at about $202,000. Eagle Global Advisors LLC bought a new stake in shares of Atmos Energy in the 2nd quarter valued at about $207,000. Carnegie Capital Asset Management LLC bought a new stake in shares of Atmos Energy in the 2nd quarter valued at about $209,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Atmos Energy in the 2nd quarter valued at about $210,000. 74.56% of the stock is currently owned by institutional investors and hedge funds.

ATO stock traded down $0.40 during trading on Thursday, hitting $93.50. The company had a trading volume of 399,500 shares, compared to its average volume of 495,290. The company has a market capitalization of $10.45 billion, a PE ratio of 26.14, a P/E/G ratio of 3.66 and a beta of 0.11. Atmos Energy has a 52-week low of $76.46 and a 52-week high of $95.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.31 and a quick ratio of 0.22.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Monday, August 27th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, August 24th. Atmos Energy’s dividend payout ratio (DPR) is 53.89%.

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

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