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Atmos Energy Corporation (NYSE: ATO) Is A Blank Check For Growth

Atmos Energy Corporation (NYSE:ATO) shares, rose in value on Friday, 06/24/22, with the stock price up by 2.06% to the previous day’s close as strong demand from buyers drove the stock to $109.24.

Actively observing the price movement in the last trading, the stock closed the session at $107.04, falling within a range of $107.41 and $109.67. The value of beta (5-year monthly) was 0.47 whereas the PE ratio was 20.44 over 12-month period. Referring to stock’s 52-week performance, its high was $122.96, and the low was $85.80. On the whole, ATO has fluctuated by -5.85% over the past month.

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With the market capitalization of Atmos Energy Corporation currently standing at about $15.34 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jan 31, 2022 – Feb 04, 2022. The company’s Forward Dividend Ratio is 2.72, with its dividend yield at 2.49%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.83, which is expected to increase to $0.53 for fiscal year $5.54 and then to about $5.91 by fiscal year 2023. Data indicates that the EPS growth is expected to be 8.20% in 2023, while the next year’s EPS growth is forecast to be 6.70%.

Analysts have estimated the company’s revenue for the quarter at $678.61 million, with a low estimate of $629.59 million and a high estimate of $765 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $3.77 billion, representing an increase of 10.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that ATO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 2.37, with the price of ATO currently trading nearly -2.25% and -4.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.61, while the 7-day volatility ratio is showing 2.19% which for the 30-day chart, stands at 2.06%. Furthermore, Atmos Energy Corporation (ATO)’s beta value is 0.52, and its average true range (ATR) is 2.47.

A comparison of Atmos Energy Corporation (ATO) with its peers suggests the former has fared considerably weaker in the market. ATO showed an intraday change of 2.06% in last session, and over the past year, it grew by 12.09%%. In comparison, ONEOK Inc. (OKE) has moved higher at 2.36% on the day and was down -2.36% over the past 12 months. On the other hand, the price of NiSource Inc. (NI) has risen 2.91% on the day. The stock, however, is off 15.22% from where it was a year ago. The PE ratio stands at 20.44 for Atmos Energy Corporation, compared to 16.25 for ONEOK Inc., and 18.82 for NiSource Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 3.06%. Meanwhile, the Dow Jones Industrial Improved by 2.68%.

Data on historical trading for Atmos Energy Corporation (NYSE:ATO) indicates that the trading volumes over the past 10 days have averaged 0.95 million and over the past 3 months, they’ve averaged 992.33K. According to company’s latest data on outstanding shares, there are 136.83 million shares outstanding.

Nearly 0.30% of Atmos Energy Corporation’s shares belong to company insiders and institutional investors own 92.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.51 million shares as on Apr 28, 2022, resulting in a short ratio of 3.68. According to the data, the short interest in Atmos Energy Corporation (ATO) stood at 2.52% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 3.42 million. The stock has risen by 4.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ATO stock heading into the next quarter.

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