Summit Wealth Group LLC Co. Buys New Stake in Atmos Energy Corporation $ATO

Summit Wealth Group LLC Co. bought a new position in shares of Atmos Energy Corporation (NYSE:ATO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,377 shares of the utilities provider’s stock, valued at approximately $528,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Atmos Energy during the 2nd quarter worth $2,624,975,000. Avidian Wealth Enterprises LLC acquired a new position in Atmos Energy during the 3rd quarter worth about $1,608,000. Rosenberg Matthew Hamilton lifted its holdings in Atmos Energy by 474.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 5,971 shares of the utilities provider’s stock worth $934,000 after buying an additional 4,932 shares during the period. Anchor Investment Management LLC lifted its holdings in Atmos Energy by 176.7% during the 2nd quarter. Anchor Investment Management LLC now owns 22,612 shares of the utilities provider’s stock worth $3,895,000 after buying an additional 14,440 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Atmos Energy in the 2nd quarter valued at about $720,212,000. 90.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Atmos Energy news, Director William Ware purchased 300 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $167.59 per share, for a total transaction of $50,277.00. Following the acquisition, the director owned 488 shares in the company, valued at approximately $81,783.92. The trade was a 159.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.43% of the company’s stock.

Atmos Energy Trading Down 0.5%

ATO opened at $173.72 on Wednesday. Atmos Energy Corporation has a twelve month low of $154.72 and a twelve month high of $192.51. The company has a fifty day moving average of $164.43 and a 200-day moving average of $174.16. The stock has a market cap of $29.36 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 0.64.

Atmos Energy (NYSE:ATO) last released its earnings results on Wednesday, August 5th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08. The business had revenue of $879.06 million for the quarter, compared to analyst estimates of $900.82 million. Atmos Energy had a net margin of 28.50% and a return on equity of 9.67%. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, sell-side analysts predict that Atmos Energy Corporation will post 8.47 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ATO. Weiss Ratings cut Atmos Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 28th. Wall Street Zen downgraded Atmos Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered Atmos Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $198.00 to $180.00 in a research note on Friday, September 11th. Barclays reduced their target price on Atmos Energy from $184.00 to $183.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Finally, Morgan Stanley upped their target price on Atmos Energy from $179.00 to $182.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $183.27.

Atmos Energy Company Profile

Atmos Energy Corporation (NYSE:ATO) is a regulated natural gas utility that distributes natural gas to residential, commercial, industrial and agricultural customers. The company also operates natural gas pipeline and storage assets, supporting the transportation and management of gas within its service areas.

Atmos Energy serves more than 3 million distribution customers across eight states, including Texas, Louisiana, Mississippi, Tennessee, Kentucky, Virginia, Kansas and Colorado. Its distribution operations include a large network of natural gas pipelines and related infrastructure, while its pipeline and storage business provides transportation and storage services primarily in Texas and Mississippi.

The company traces its history to 1906 and is headquartered in Dallas, Texas.