Atmos Energy Co. to Issue Quarterly Dividend of $0.53 (NYSE:ATO)

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Atmos Energy Co. (NYSE:ATO) declared a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Investors of record on Monday, August 26th will be given a dividend of 0.525 per share by the utilities provider on Monday, September 9th. This represents a $2.10 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, August 23rd.

Atmos Energy has increased its dividend by an average of 7.6% per year over the last three years and has raised its dividend every year for the last 36 years. Atmos Energy has a payout ratio of 53.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Atmos Energy to earn $4.63 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 45.4%.

NYSE:ATO opened at $110.21 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.44 and a current ratio of 0.56. Atmos Energy has a one year low of $87.88 and a one year high of $111.43. The business’s 50-day simple moving average is $108.13 and its 200 day simple moving average is $103.03. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 3.82 and a beta of 0.22.

Atmos Energy (NYSE:ATO) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Atmos Energy had a return on equity of 9.38% and a net margin of 16.94%. The business had revenue of $485.74 million for the quarter, compared to analysts’ expectations of $681.16 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was down 13.6% compared to the same quarter last year. On average, equities research analysts predict that Atmos Energy will post 4.34 EPS for the current year.

Several analysts have issued reports on ATO shares. Morgan Stanley cut their price objective on Atmos Energy from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Wells Fargo & Co started coverage on Atmos Energy in a research note on Monday, July 15th. They set an “outperform” rating and a $119.00 price objective on the stock. Finally, Zacks Investment Research upgraded Atmos Energy from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Atmos Energy currently has an average rating of “Buy” and an average target price of $105.50.

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 Distribution, and Pipeline and Storage segments. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states.

Read More: Understanding Compound Annual Growth Rate (CAGR)

Dividend History for Atmos Energy (NYSE:ATO)

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