Cypress Capital Group Sells 2,075 Shares of Atmos Energy Co. (NYSE:ATO)

Cypress Capital Group cut its holdings in Atmos Energy Co. (NYSE:ATO) by 28.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,173 shares of the utilities provider’s stock after selling 2,075 shares during the quarter. Cypress Capital Group’s holdings in Atmos Energy were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Atmos Energy in the second quarter valued at approximately $37,000. PFS Partners LLC acquired a new stake in shares of Atmos Energy during the third quarter worth $69,000. GAMMA Investing LLC increased its stake in Atmos Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 778 shares of the utilities provider’s stock valued at $91,000 after buying an additional 335 shares during the last quarter. Allworth Financial LP increased its stake in Atmos Energy by 50.8% in the 3rd quarter. Allworth Financial LP now owns 992 shares of the utilities provider’s stock valued at $138,000 after buying an additional 334 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Atmos Energy by 158.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 997 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 611 shares during the period. 90.17% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Edward Geiser acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $144.89 per share, for a total transaction of $362,225.00. Following the completion of the acquisition, the director now owns 2,602 shares of the company’s stock, valued at approximately $377,003.78. This represents a 2,450.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

Atmos Energy Stock Performance

ATO opened at $150.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $140.45 and its two-hundred day moving average price is $128.42. Atmos Energy Co. has a 1-year low of $110.46 and a 1-year high of $150.38. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.94 and a beta of 0.68.

Atmos Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a $0.87 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.48 annualized dividend and a dividend yield of 2.32%. This is an increase from Atmos Energy’s previous quarterly dividend of $0.81. Atmos Energy’s dividend payout ratio is currently 46.87%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ATO shares. Barclays boosted their price objective on shares of Atmos Energy from $129.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of Atmos Energy from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH upped their price objective on shares of Atmos Energy from $144.00 to $150.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price on shares of Atmos Energy from $128.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on shares of Atmos Energy in a research note on Wednesday, October 2nd. They set a “hold” rating and a $155.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.94.

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.