Atmos Energy Co. (NYSE:ATO) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.525 per share by the utilities provider on Monday, June 10th. This represents a $2.10 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, May 24th.
Atmos Energy has raised its dividend by an average of 7.6% per year over the last three years and has raised its dividend annually for the last 36 consecutive years. Atmos Energy has a dividend payout ratio of 53.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atmos Energy to earn $4.61 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 45.6%.
NYSE:ATO traded up $1.16 during trading hours on Friday, hitting $101.80. The stock had a trading volume of 724,204 shares, compared to its average volume of 1,106,802. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.78 and a quick ratio of 0.69. Atmos Energy has a one year low of $84.35 and a one year high of $104.07. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 3.59 and a beta of 0.25.
Separately, Zacks Investment Research upgraded shares of Atmos Energy from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $102.00.
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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.
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