Mizuho Securities analyst Gabe Moreen has maintained their bullish stance on ATO stock, giving a Buy rating yesterday.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Gabe Moreen has given his Buy rating due to a combination of factors surrounding Atmos Energy’s recent performance and future outlook. The company reported first-quarter earnings per share slightly above market expectations, demonstrating its reliable performance which aligns with its newly announced five-year expansion plan. This steady execution, coupled with a significant increase in capital expenditure, suggests that Atmos is well-positioned to achieve its fiscal year 2025 guidance.
Additionally, Atmos Energy benefits from favorable natural gas basis spreads in Texas, which have positively impacted their financial results. The company is also actively involved in regulatory proceedings that may lead to advantageous outcomes similar to previous favorable rulings. Although there is a negative credit outlook from Moody’s due to debt ratios, management expects this to be reviewed soon. These factors collectively contribute to the positive sentiment and the Buy rating maintained by Gabe Moreen.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATO in relation to earlier this year.