Edward Geiser, a director at Atmos Energy Corp (NYSE:ATO), has acquired 2,500 shares of common stock, totaling $362,224. The shares were purchased at a price of $144.89 each on November 11, 2024. Following this transaction, Geiser's direct ownership in the company stands at 2,602 shares.
In other recent news, Atmos Energy Corporation reported a 12% increase in earnings per share (EPS) for Fiscal 2024, reaching $6.83, marking its 22nd year of consistent EPS growth. The company also provided EPS guidance for Fiscal 2025, projecting an increase to between $7.05 and $7.25. In addition to these developments, Atmos Energy announced a five-year capital investment plan totaling $24 billion, primarily aimed at safety and system modernization.
Atmos Energy also reported the addition of over 59,000 new customers, primarily in the DFW Metroplex, and an 8.1% dividend increase to $3.48 annually. The company anticipates a rate base increase to approximately $37 billion by the end of Fiscal 2029. However, it also noted a potential increase in O&M CAGR from 3.5% to 4%, which may impact EPS growth relative to rate base growth.
Despite ongoing global uncertainties, Atmos Energy projects 6% to 8% fully regulated EPS growth annually, with dividend increases expected to correspond with the EPS growth. The company remains optimistic about its long-term outlook, emphasizing a conservative approach to future planning and a commitment to meeting customer demands. These are just a few of the recent developments at Atmos Energy.
InvestingPro Insights
Edward Geiser's recent purchase of Atmos Energy Corp (NYSE:ATO) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock is trading near its 52-week high, with a substantial price uptick of 26.36% over the last six months. This momentum is further supported by Atmos Energy's strong dividend history, as noted in an InvestingPro Tip: the company has raised its dividend for 32 consecutive years, demonstrating a commitment to shareholder returns.
The current dividend yield stands at 2.38%, with a remarkable dividend growth of 17.57% in the last twelve months. This consistent dividend performance may have factored into Geiser's decision to increase his stake in the company.
Atmos Energy's financial health appears robust, with a market capitalization of $22.87 billion and an EBITDA growth of 23.58% in the last twelve months. The company's P/E ratio of 21.45 suggests that investors are willing to pay a premium for its shares, possibly due to its stable business model and growth prospects.
InvestingPro offers additional insights, with 8 more tips available for Atmos Energy. These tips could provide further context for investors looking to understand the company's position in the utility sector and its potential for future growth.
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