Atmos Energy Co. (ATO) Announces Dividend Increase – $0.53 Per Share

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Atmos Energy Co. (NYSE:ATO) announced a quarterly dividend on Wednesday, November 7th, RTT News reports. Stockholders of record on Monday, November 26th will be given a dividend of 0.525 per share by the utilities provider on Monday, December 10th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Atmos Energy’s previous quarterly dividend of $0.49.

Atmos Energy has raised its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 35 years. Atmos Energy has a dividend payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Atmos Energy to earn $4.27 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 45.4%.

Shares of ATO traded up $1.24 during mid-day trading on Wednesday, reaching $96.70. The company’s stock had a trading volume of 352,348 shares, compared to its average volume of 488,906. Atmos Energy has a 1-year low of $76.46 and a 1-year high of $98.40. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.32 and a beta of 0.10. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 0.55.

Atmos Energy (NYSE:ATO) last announced its earnings results on Wednesday, August 8th. The utilities provider reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.04). The firm had revenue of $562.25 million during the quarter, compared to the consensus estimate of $622.30 million. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, analysts expect that Atmos Energy will post 3.96 earnings per share for the current year.

A number of equities analysts have recently weighed in on ATO shares. Bank of America increased their target price on Atmos Energy from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Morgan Stanley set a $103.00 target price on Atmos Energy and gave the stock a “buy” rating in a research note on Thursday, October 11th. ValuEngine upgraded Atmos Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Seaport Global Securities reiterated a “buy” rating and set a $98.00 target price on shares of Atmos Energy in a research note on Thursday, August 16th. Finally, Zacks Investment Research lowered Atmos Energy from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Atmos Energy presently has a consensus rating of “Buy” and a consensus target price of $94.38.

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

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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 regulated natural gas distribution, and related sales and storage operations.

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Dividend History for Atmos Energy (NYSE:ATO)

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