Intrinsic value of Atmos Energy - ATO

Previous Close

$81.04

  Intrinsic Value

$60.44

stock screener

  Rating & Target

sell

-25%

Previous close

$81.04

 
Intrinsic value

$60.44

 
Up/down potential

-25%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ATO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Atmos Energy (ATO) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.42
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
Revenue, $m
  2,760
  2,956
  3,160
  3,371
  3,592
  3,821
  4,059
  4,307
  4,566
  4,835
  5,117
  5,410
  5,716
  6,036
  6,370
  6,719
  7,084
  7,466
  7,865
  8,283
  8,721
  9,179
  9,659
  10,162
  10,689
  11,241
  11,820
  12,427
  13,064
  13,731
  14,432
Variable operating expenses, $m
 
  2,159
  2,302
  2,452
  2,607
  2,769
  2,937
  3,112
  3,294
  3,485
  3,683
  3,817
  4,033
  4,258
  4,494
  4,740
  4,998
  5,267
  5,549
  5,844
  6,153
  6,476
  6,815
  7,170
  7,542
  7,931
  8,340
  8,768
  9,217
  9,688
  10,182
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,032
  2,159
  2,302
  2,452
  2,607
  2,769
  2,937
  3,112
  3,294
  3,485
  3,683
  3,817
  4,033
  4,258
  4,494
  4,740
  4,998
  5,267
  5,549
  5,844
  6,153
  6,476
  6,815
  7,170
  7,542
  7,931
  8,340
  8,768
  9,217
  9,688
  10,182
Operating income, $m
  728
  797
  857
  920
  985
  1,052
  1,122
  1,195
  1,271
  1,351
  1,434
  1,593
  1,683
  1,777
  1,876
  1,978
  2,086
  2,198
  2,316
  2,439
  2,568
  2,703
  2,844
  2,992
  3,147
  3,310
  3,480
  3,659
  3,847
  4,043
  4,249
EBITDA, $m
  1,048
  870
  930
  993
  1,058
  1,125
  1,195
  1,268
  1,344
  1,424
  1,507
  1,593
  1,683
  1,777
  1,876
  1,978
  2,086
  2,198
  2,316
  2,439
  2,568
  2,703
  2,844
  2,992
  3,147
  3,310
  3,480
  3,659
  3,847
  4,043
  4,249
Interest expense (income), $m
  157
  160
  183
  206
  230
  255
  281
  309
  337
  366
  397
  429
  462
  497
  534
  572
  611
  653
  696
  742
  789
  839
  891
  946
  1,003
  1,063
  1,126
  1,192
  1,261
  1,334
  1,410
Earnings before tax, $m
  604
  637
  674
  713
  754
  797
  841
  887
  935
  984
  1,037
  1,164
  1,221
  1,280
  1,342
  1,407
  1,474
  1,545
  1,619
  1,697
  1,778
  1,863
  1,953
  2,046
  2,144
  2,247
  2,354
  2,467
  2,585
  2,710
  2,840
Tax expense, $m
  221
  172
  182
  193
  204
  215
  227
  239
  252
  266
  280
  314
  330
  346
  362
  380
  398
  417
  437
  458
  480
  503
  527
  552
  579
  607
  636
  666
  698
  732
  767
Net income, $m
  396
  465
  492
  521
  551
  582
  614
  647
  682
  719
  757
  850
  891
  934
  980
  1,027
  1,076
  1,128
  1,182
  1,239
  1,298
  1,360
  1,425
  1,494
  1,565
  1,640
  1,719
  1,801
  1,887
  1,978
  2,073

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  26
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,750
  11,502
  12,294
  13,118
  13,975
  14,866
  15,794
  16,760
  17,766
  18,815
  19,909
  21,050
  22,241
  23,485
  24,785
  26,143
  27,563
  29,049
  30,603
  32,230
  33,932
  35,716
  37,584
  39,540
  41,591
  43,740
  45,993
  48,355
  50,832
  53,430
  56,154
Adjusted assets (=assets-cash), $m
  10,724
  11,502
  12,294
  13,118
  13,975
  14,866
  15,794
  16,760
  17,766
  18,815
  19,909
  21,050
  22,241
  23,485
  24,785
  26,143
  27,563
  29,049
  30,603
  32,230
  33,932
  35,716
  37,584
  39,540
  41,591
  43,740
  45,993
  48,355
  50,832
  53,430
  56,154
Revenue / Adjusted assets
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
Average production assets, $m
  -1,717
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Working capital, $m
  -473
  -53
  -57
  -61
  -65
  -69
  -73
  -78
  -82
  -87
  -92
  -97
  -103
  -109
  -115
  -121
  -128
  -134
  -142
  -149
  -157
  -165
  -174
  -183
  -192
  -202
  -213
  -224
  -235
  -247
  -260
Total debt, $m
  3,515
  3,979
  4,483
  5,007
  5,552
  6,119
  6,709
  7,323
  7,963
  8,630
  9,326
  10,052
  10,809
  11,601
  12,427
  13,291
  14,194
  15,139
  16,127
  17,162
  18,245
  19,379
  20,567
  21,812
  23,116
  24,483
  25,916
  27,418
  28,993
  30,645
  32,378
Total liabilities, $m
  6,851
  7,315
  7,819
  8,343
  8,888
  9,455
  10,045
  10,659
  11,299
  11,966
  12,662
  13,388
  14,145
  14,937
  15,763
  16,627
  17,530
  18,475
  19,463
  20,498
  21,581
  22,715
  23,903
  25,148
  26,452
  27,819
  29,252
  30,754
  32,329
  33,981
  35,714
Total equity, $m
  3,899
  4,187
  4,475
  4,775
  5,087
  5,411
  5,749
  6,101
  6,467
  6,849
  7,247
  7,662
  8,096
  8,549
  9,022
  9,516
  10,033
  10,574
  11,139
  11,732
  12,351
  13,000
  13,680
  14,393
  15,139
  15,921
  16,742
  17,601
  18,503
  19,448
  20,440
Total liabilities and equity, $m
  10,750
  11,502
  12,294
  13,118
  13,975
  14,866
  15,794
  16,760
  17,766
  18,815
  19,909
  21,050
  22,241
  23,486
  24,785
  26,143
  27,563
  29,049
  30,602
  32,230
  33,932
  35,715
  37,583
  39,541
  41,591
  43,740
  45,994
  48,355
  50,832
  53,429
  56,154
Debt-to-equity ratio
  0.902
  0.950
  1.000
  1.050
  1.090
  1.130
  1.170
  1.200
  1.230
  1.260
  1.290
  1.310
  1.340
  1.360
  1.380
  1.400
  1.410
  1.430
  1.450
  1.460
  1.480
  1.490
  1.500
  1.520
  1.530
  1.540
  1.550
  1.560
  1.570
  1.580
  1.580
Adjusted equity ratio
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364
  0.364

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  396
  465
  492
  521
  551
  582
  614
  647
  682
  719
  757
  850
  891
  934
  980
  1,027
  1,076
  1,128
  1,182
  1,239
  1,298
  1,360
  1,425
  1,494
  1,565
  1,640
  1,719
  1,801
  1,887
  1,978
  2,073
Depreciation, amort., depletion, $m
  320
  73
  73
  73
  73
  73
  73
  73
  73
  73
  73
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  794
  538
  565
  594
  624
  655
  687
  720
  755
  792
  830
  850
  891
  934
  980
  1,027
  1,076
  1,128
  1,182
  1,239
  1,298
  1,360
  1,425
  1,494
  1,565
  1,640
  1,719
  1,801
  1,887
  1,978
  2,073
Change in working capital, $m
  -73
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
Cash from operations, $m
  867
  541
  569
  598
  628
  659
  691
  725
  760
  797
  835
  855
  897
  940
  986
  1,033
  1,083
  1,135
  1,189
  1,246
  1,306
  1,369
  1,434
  1,503
  1,575
  1,650
  1,729
  1,812
  1,899
  1,990
  2,086
Maintenance CAPEX, $m
  0
  343
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
New CAPEX, $m
  -1,137
  -1,717
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from investing activities, $m
  -1,056
  -1,374
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Free cash flow, $m
  -189
  -832
  569
  598
  628
  659
  691
  725
  760
  797
  835
  855
  897
  940
  986
  1,033
  1,083
  1,135
  1,189
  1,246
  1,306
  1,369
  1,434
  1,503
  1,575
  1,650
  1,729
  1,812
  1,899
  1,990
  2,086
Issuance/(repayment) of debt, $m
  253
  490
  504
  524
  545
  567
  590
  614
  640
  667
  696
  726
  758
  791
  827
  864
  903
  945
  988
  1,035
  1,083
  1,134
  1,188
  1,245
  1,304
  1,367
  1,433
  1,502
  1,575
  1,652
  1,733
Issuance/(repurchase) of shares, $m
  99
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  360
  490
  504
  524
  545
  567
  590
  614
  640
  667
  696
  726
  758
  791
  827
  864
  903
  945
  988
  1,035
  1,083
  1,134
  1,188
  1,245
  1,304
  1,367
  1,433
  1,502
  1,575
  1,652
  1,733
Total cash flow (excl. dividends), $m
  171
  -342
  1,073
  1,122
  1,172
  1,225
  1,281
  1,339
  1,400
  1,464
  1,530
  1,581
  1,654
  1,731
  1,812
  1,897
  1,986
  2,080
  2,178
  2,281
  2,389
  2,503
  2,622
  2,747
  2,879
  3,017
  3,162
  3,314
  3,474
  3,642
  3,818
Retained Cash Flow (-), $m
  -436
  -288
  -288
  -300
  -312
  -324
  -338
  -352
  -366
  -382
  -398
  -415
  -434
  -453
  -473
  -494
  -517
  -541
  -566
  -592
  -620
  -649
  -680
  -712
  -746
  -782
  -820
  -860
  -902
  -945
  -992
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -288
  784
  822
  861
  901
  943
  987
  1,034
  1,082
  1,132
  1,165
  1,221
  1,278
  1,339
  1,403
  1,469
  1,539
  1,612
  1,689
  1,769
  1,854
  1,942
  2,035
  2,132
  2,235
  2,342
  2,454
  2,573
  2,696
  2,827
Discount rate, %
 
  7.20
  7.56
  7.94
  8.33
  8.75
  9.19
  9.65
  10.13
  10.64
  11.17
  11.73
  12.31
  12.93
  13.58
  14.26
  14.97
  15.72
  16.50
  17.33
  18.19
  19.10
  20.06
  21.06
  22.11
  23.22
  24.38
  25.60
  26.88
  28.22
  29.64
PV of cash for distribution, $m
 
  -268
  678
  653
  625
  592
  557
  518
  478
  436
  393
  344
  303
  263
  225
  190
  158
  129
  103
  81
  62
  47
  35
  25
  18
  12
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Atmos Energy Corporation is a fully-regulated, natural-gas-only distributor engaged primarily in the regulated natural gas distribution and pipeline businesses, as well as other nonregulated natural gas businesses. It operates through three segments: regulated distribution segment, which includes its regulated distribution and related sales operations; regulated pipeline segment, which includes pipeline and storage operations of its Atmos Pipeline-Texas Division, and nonregulated segment, which includes its nonregulated natural gas management, nonregulated natural gas transmission, storage and other services. Its nonregulated businesses provide natural gas management, transportation and storage services to local gas distribution companies, including certain of its natural gas distribution divisions and industrial customers in the Midwest and Southeast. It also manages its natural gas pipeline and storage assets, including its intrastate natural gas pipeline systems in Texas.

FINANCIAL RATIOS  of  Atmos Energy (ATO)

Valuation Ratios
P/E Ratio 21.7
Price to Sales 3.1
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 9.9
Price to Free Cash Flow -31.8
Growth Rates
Sales Growth Rate 12.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.6%
Cap. Spend. - 3 Yr. Gr. Rate 6.4%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 78.7%
Total Debt to Equity 90.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.8%
Ret/ On Assets - 3 Yr. Avg. 4.7%
Return On Total Capital 5.6%
Ret/ On T. Cap. - 3 Yr. Avg. 5.5%
Return On Equity 10.8%
Return On Equity - 3 Yr. Avg. 10.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 39.2%
EBITDA Margin - 3 Yr. Avg. 37%
Operating Margin 26.4%
Oper. Margin - 3 Yr. Avg. 24.7%
Pre-Tax Margin 21.9%
Pre-Tax Margin - 3 Yr. Avg. 20.3%
Net Profit Margin 14.3%
Net Profit Margin - 3 Yr. Avg. 13.1%
Effective Tax Rate 36.6%
Eff/ Tax Rate - 3 Yr. Avg. 37%
Payout Ratio 48.5%

ATO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ATO stock intrinsic value calculation we used $2760 million for the last fiscal year's total revenue generated by Atmos Energy. The default revenue input number comes from 2017 income statement of Atmos Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ATO stock valuation model: a) initial revenue growth rate of 7.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.2%, whose default value for ATO is calculated based on our internal credit rating of Atmos Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Atmos Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ATO stock the variable cost ratio is equal to 73.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ATO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.6% for Atmos Energy.

Corporate tax rate of 27% is the nominal tax rate for Atmos Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ATO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ATO are equal to 0%.

Life of production assets of -3.1 years is the average useful life of capital assets used in Atmos Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ATO is equal to -1.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3899 million for Atmos Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 110.49 million for Atmos Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Atmos Energy at the current share price and the inputted number of shares is $9.0 billion.

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COMPANY NEWS

▶ Ray Dalio's Bridgewater Bets on Utilities in 4th Quarter   [Feb-14-18 12:56PM  GuruFocus.com]
▶ Atmos beats 1Q profit forecasts   [Feb-06-18 05:47PM  Associated Press]
▶ Mississippi's largest gas utility to raise rates for 260,000   [Dec-05-17 06:03PM  Associated Press]
▶ Atmos Energy Earns IBD Rating Upgrade   [Dec-01-17 03:00AM  Investor's Business Daily]
▶ Atmos Energy's Long Rally Should Continue   [08:56AM  TheStreet.com]
▶ Atmos Energy Shows Rising Relative Strength; Still Shy Of Key Benchmark   [Nov-10-17 03:00AM  Investor's Business Daily]
▶ 3 Dividend Stocks That Thrive in Market Crashes   [Oct-28-17 09:45AM  Motley Fool]
▶ Own Natural Gas Stocks For Dividends, M&A   [Sep-21-17 09:47AM  Barrons.com]
▶ ETFs with exposure to Atmos Energy Corp. : August 8, 2017   [Aug-08-17 03:59PM  Capital Cube]
▶ Atmos beats 3Q profit forecasts   [Aug-04-17 01:12AM  Associated Press]
▶ ETFs with exposure to Atmos Energy Corp. : July 24, 2017   [Jul-24-17 02:13PM  Capital Cube]
▶ ETFs with exposure to Atmos Energy Corp. : July 13, 2017   [Jul-13-17 03:30PM  Capital Cube]
▶ The Top Dividend-Growing Utilities Stocks   [Jul-12-17 02:44PM  Market Realist]
▶ ETFs with exposure to Atmos Energy Corp. : July 3, 2017   [Jul-03-17 02:53PM  Capital Cube]
▶ ETFs with exposure to Atmos Energy Corp. : June 22, 2017   [Jun-22-17 03:23PM  Capital Cube]
Financial statements of ATO
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