Atmos Energy reported fiscal third-quarter operating earnings per share of $1.16, up from $1.08 in the year-ago quarter. Year-to-date earnings were up 7%.
Utilities have limited direct exposure to the tariffs announced by the Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.
Atmos Energy reported fiscal first-quarter operating earnings per share of $2.23, up from $2.08 in the year-ago period. It recently announced an annualized $3.48 per share dividend, an 8.1% increase from the prior year.
We are increasing our Atmos Energy fair value estimate to $134 per share, up $10, after Atmos reported 2024 fiscal-year $6.83 EPS, up from $6.10 in the same year-ago period and above management's $6.70-$6.80 full-year EPS guidance range.
We are maintaining our $119 fair value estimate, after Atmos reported third quarter fiscal year earnings of $1.08 per share, up from $0.94 in the same year-ago period.
We are increasing our Atmos fair value estimate to $119 per share from $113 after Atmos reported first-half fiscal-year earnings of $4.93, up from $4.40 in the same year-ago period.
We are reaffirming our $113 per share fair value estimate after Atmos reported first-quarter fiscal 2024 earnings per share of $2.08, up 9% compared with the same year-ago period. Atmos now trades in line with our fair value estimate as of Feb. 7 after trading at a 14% premium to our fair value estimate last July. Our narrow moat and stable moat trend remain unchanged.