Atmos Energy (ATO)
Delivers regulated natural gas and operates Texas pipeline and storage infrastructure.
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Delivers regulated natural gas to homes and businesses across eight states, while Atmos Pipeline–Texas transports and stores gas for utilities, power generators, and other customers. Revenue comes from approved utility rates and transportation and storage charges, with purchased-gas costs generally passed through to utility customers.
Delivers regulated natural gas to residential, commercial, public-authority, and industrial customers across eight states, primarily in the South. The Distribution segment sells gas and transports customer-owned gas through six utility divisions, with Mid-Tex serving the largest territory.
Moves and stores gas through the Pipeline and Storage segment. Atmos Pipeline–Texas serves the Mid-Tex utility, other distributors, power generators, industrial users, marketers, and producers; Louisiana transmission operations complete the segment. Most capital spending targets system safety and reliability.
State-approved rates and infrastructure mechanisms determine returns on invested capital, while purchased-gas adjustments generally pass commodity costs through to customers. Operations depend on regulatory approvals, timely cost recovery, gas supply, and pipeline reliability; Texas accounts for most customers and the pipeline business.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $196 | Target: $179 |
| Sep 11, 2026 | JP Morgan | Downgrade | ||
| Aug 13, 2026 | Truist Financial | Target | Target: $187 | Target: $179 |
| Jul 22, 2026 | Morgan Stanley | Target | Target: $190 | Target: $196 |
| Jul 14, 2026 | Barclays | Reiterate | Rating: —Target: $167 | Target: $183 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $525.8M · Total debt $10.26B · Total assets $31.59B · Shareholders' equity $15.26B
- Revenue
- $879.1M
- Operating income
- $320.4M
- Net income
- $242.7M
HistoryDividendAnnual yield
| Institutions | ≈ 93.42% | 157.87M shares | |
|---|---|---|---|
| 1,054 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.38% | 648.5K shares | |
| 19 holders · as of Sep 17, 2026 | |||
| Other | ≈ 6.20% | 10.47M shares | |
| remainder | |||
168.99M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.02% | 15.24M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.73% | 11.38M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.44% | 10.89M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.54% | 9.36M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 5.44% | 9.19M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | William James Ware | director | +300 | $167.59 |
| Dec 3, 2025 | Sean Donohue | director | −450 | $171.15 |
- ONE Gas
Pure-play gas LDC with direct Texas-Kansas franchise overlap.
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70-yr dividend-growth gas LDC; longest streak peer; SiEnergy Texas utility.
- New Jersey Resources
NJ pure-play gas LDC plus adjacent energy services; capital-markets peer.
- CenterPoint Energy
Hybrid gas+electric utility; direct Texas gas-LDC overlap with Atmos Mid-Tex.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Atmos Energy | $156.28 | −0.67% | $26.26B | 18.7 | 17.5 | 5.3 | +4.8% |
| ONE Gas | $72.26 | −1.78% | $4.62B | 15.9 | 14.6 | 2.0 | −2.9% |
| Spire | $77.28 | −1.56% | $4.64B | 8.8 | 15.9 | 1.8 | −0.4% |
| Southwest Gas | $82.29 | −1.44% | $6.04B | 11.6 | 17.6 | 3.5 | −68.0% |
| NW Natural | $47.20 | −1.21% | $2.01B | 15.6 | 14.7 | 1.6 | +3.1% |
| New Jersey Resources | $52.28 | −0.83% | $5.32B | 14.6 | 15.8 | 2.4 | +16.8% |
| CenterPoint Energy | $37.21 | −1.69% | $24.93B | 22.3 | 18.6 | 2.6 | +10.7% |
| Median | 15.1 | 15.8 | 2.2 | +1.4% |