Atmos Energy (NYSE:ATO) Issues FY24 Earnings Guidance

Atmos Energy (NYSE:ATO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.70-6.80 for the period, compared to the consensus EPS estimate of $6.61. Atmos Energy also updated its FY 2024 guidance to 6.700-6.800 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Atmos Energy from $115.00 to $121.00 and gave the stock an equal weight rating in a research report on Thursday, March 14th. UBS Group assumed coverage on shares of Atmos Energy in a report on Friday, April 12th. They set a neutral rating and a $124.00 price target for the company. Finally, StockNews.com lowered shares of Atmos Energy from a hold rating to a sell rating in a research note on Saturday, April 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atmos Energy currently has a consensus rating of Hold and an average target price of $124.33.

Atmos Energy Stock Performance

Shares of ATO stock traded up $0.25 during trading on Wednesday, reaching $120.59. 982,233 shares of the company’s stock traded hands, compared to its average volume of 807,761. Atmos Energy has a 1 year low of $101.00 and a 1 year high of $125.28. The firm’s 50-day moving average is $116.35 and its 200 day moving average is $114.40. The company has a current ratio of 1.44, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $18.19 billion, a P/E ratio of 19.10, a PEG ratio of 2.58 and a beta of 0.66.

Atmos Energy (NYSE:ATO) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.54 billion. Atmos Energy had a net margin of 23.43% and a return on equity of 8.62%. Atmos Energy’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.48 EPS. Equities research analysts expect that Atmos Energy will post 6.6 EPS for the current year.

Atmos Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.67%. Atmos Energy’s payout ratio is 51.11%.

Insider Activity

In related news, Director Kim R. Cocklin sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $116.46, for a total transaction of $1,746,900.00. Following the transaction, the director now owns 186,339 shares in the company, valued at approximately $21,701,039.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% 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 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.