Atmos Energy
Delivers regulated natural gas and operates Texas pipeline and storage infrastructure.
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Profile
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
Categories
Key statistics
Year to date −1.6% · Average volume (30d) 948.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Truist Financial | Target | $187 | $179 | |
| Jul 22, 2026 | Morgan Stanley | Target | $190 | $196 | |
| Jul 14, 2026 | Barclays | Reiterate | Equal Weight | $167 | $183 |
| Jul 13, 2026 | Wells Fargo | Initiate | Overweight | $156 | $200 |
| Jul 2, 2026 | Argus Research | Reiterate | Buy | $172 | $185 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q3 FY26 | $1.35 | $1.43 | +5.9% | $900.8M | $879.1M | −2.4% | −0.13% |
| May 6, 2026Q2 FY26 | $3.41 | $3.47 | +1.8% | $1.94B | $1.96B | +1.1% | −1.57% |
| Feb 4, 2026Q1 FY26 | $2.44 | $2.44 | 0.0% | $1.30B | $1.34B | +3.6% | −0.19% |
| Nov 5, 2025Q4 FY25 | $0.99 | $1.07 | +8.1% | $721.3M | $737.5M | +2.2% | +1.67% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.95B | $838.8M | $737.5M | $1.34B | $1.96B | $879.1M | |
| Gross profit | $938.0M | $377.0M | $413.0M | $816.8M | $903.6M | $870.8M | |
| Operating income | $628.9M | $252.1M | $219.5M | $514.8M | $764.8M | $320.4M | |
| Net income | $485.6M | $186.3M | $175.0M | $403.0M | $581.9M | $242.7M | |
| Diluted EPS | $3.03 | $1.16 | $1.06 | $2.44 | $3.47 | $1.43 | |
| Gross margin | 48.1% | 45.0% | 56.0% | 60.8% | 46.0% | 99.1% | |
| Operating margin | 32.2% | 30.1% | 29.8% | 38.3% | 39.0% | 36.4% |
Fiscal years (4-quarter sums)FY21 $3.41B · FY22 $4.20B · FY23 $4.28B · FY24 $4.17B · FY25 $4.70B
Revenue by product · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $525.8M · Total debt $10.26B · Total assets $31.59B · Shareholders' equity $15.26B
Dividends
Raised for 39 straight years — most recently to $1.00 from $0.87 in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 24, 2026 | Aug 24 | Sep 8 | $1.00 | |
| May 26, 2026 | May 26 | Jun 8 | $1.00 | |
| Feb 23, 2026 | Feb 23 | Mar 9 | $1.00 | |
| Nov 24, 2025 | Nov 24 | Dec 8 | $1.00 | raised from $0.87 |
| Aug 25, 2025 | Aug 25 | Sep 8 | $0.87 | |
| May 27, 2025 | May 27 | Jun 9 | $0.87 | |
| Feb 25, 2025 | Feb 25 | Mar 10 | $0.87 | |
| Nov 25, 2024 | Nov 25 | Dec 9 | $0.87 | raised from $0.805 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 166.92M · Float 166.17M · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 15.24M | 9.13% | 13F | Aug 7, 2026 |
| State Street Corp | 11.38M | 6.82% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 10.89M | 6.52% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 9.36M | 5.61% | 13F | Aug 13, 2026 |
| Wellington Management Group LLP | 9.19M | 5.50% | 13F | Aug 14, 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 |
Peers
- ONE Gas
Pure-play gas LDC with direct Texas-Kansas franchise overlap.
- Spire
Pure-play gas LDC with Mississippi geographic overlap; pure-play investor comp.
- Southwest Gas
Pure-play gas LDC post-Centuri exit; high-growth Sun Belt service territory.
- NW Natural
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.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Atmos Energy | $166.65 | +0.01% | $27.82B | 19.8 | 18.5 | 5.7 | +4.8% |
| ONE Gas | $79.47 | −0.03% | $4.99B | 17.1 | 16.1 | 2.2 | −2.9% |
| Spire | $82.56 | −0.05% | $4.88B | 9.2 | 16.9 | 1.9 | −0.4% |
| Southwest Gas | $88.65 | −0.49% | $6.45B | 12.4 | 19.1 | 3.7 | −68.0% |
| NW Natural | $49.50 | +0.02% | $2.08B | 16.2 | 15.7 | 1.6 | +3.1% |
| New Jersey Resources | $53.60 | +0.02% | $5.41B | 14.8 | 16.1 | 2.4 | +16.8% |
| CenterPoint Energy | $39.14 | −0.25% | $25.85B | 23.1 | 19.5 | 2.7 | +10.7% |
| Median | 15.5 | 16.5 | 2.3 | +1.4% |