Atmos Energy (NYSE:ATO) Updates FY 2024 Earnings Guidance

Atmos Energy (NYSE:ATO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.800-6.800 for the period, compared to the consensus earnings per share estimate of 6.770. The company issued revenue guidance of -. Atmos Energy also updated its FY24 guidance to $6.70-6.80 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATO. Morgan Stanley decreased their target price on shares of Atmos Energy from $122.00 to $119.00 and set an overweight rating for the company in a research report on Monday, June 24th. StockNews.com upgraded Atmos Energy from a sell rating to a hold rating in a research note on Monday. Wells Fargo & Company raised Atmos Energy from an equal weight rating to an overweight rating and upped their target price for the company from $130.00 to $132.00 in a research report on Tuesday, May 14th. Mizuho raised their price target on Atmos Energy from $133.00 to $138.00 and gave the stock a buy rating in a report on Monday, May 13th. Finally, 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 objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Atmos Energy currently has a consensus rating of Moderate Buy and a consensus price target of $128.67.

Atmos Energy Stock Performance

Shares of NYSE ATO traded up $0.64 during midday trading on Wednesday, reaching $128.16. 1,097,844 shares of the stock were exchanged, compared to its average volume of 915,308. The company has a quick ratio of 1.22, a current ratio of 1.36 and a debt-to-equity ratio of 0.65. The firm has a market cap of $19.34 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.74 and a beta of 0.67. The firm has a 50-day simple moving average of $119.64 and a two-hundred day simple moving average of $116.93. Atmos Energy has a twelve month low of $101.00 and a twelve month high of $132.24.

Atmos Energy (NYSE:ATO) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.23. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Atmos Energy had a return on equity of 9.01% and a net margin of 24.65%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.48 EPS. As a group, analysts anticipate that Atmos Energy will post 6.77 EPS for the current fiscal year.

Atmos Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.51%. Atmos Energy’s payout ratio is 48.28%.

Insider Transactions at Atmos Energy

In other Atmos Energy news, Director Diana J. Walters sold 400 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $118.00, for a total transaction of $47,200.00. Following the completion of the transaction, the director now owns 3,551 shares of the company’s stock, valued at $419,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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 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.