Atmos Energy $ATO Symmetrical Triangle Breakout, Unusual Dark Pool Trade

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Atmos Energy $ATO stock did a Symmetrical Triangle breakout back on November 10, 2022. As of November 24, 2022, the stock is approaching the Triangle breakout target zone (in the green box on the chart below) and critical horizontal resistance. An unusually large dark pool trade also occurred in the stock at the end of October 2022. The stock also confirmed a downtrend channel breakout on November 23, 2022. $ATO stock is in a technical weak uptrend. A break above $121.39 would signal a technical trend upgrade.

Atmos Energy stock chart on November 24 2022 with a Symmetrical Triangle breakout chart pattern and positive MACD and money flow
Atmos Energy stock chart on November 24 2022 with a Symmetrical Triangle breakout chart pattern and positive MACD and money flow

Dark Pool Trade In Atmos Energy Stock

A dark pool trade occurred in Atmos Energy stock on October 21, 2022. The unusually large dark pool trade was valued at $15 million. We think the dark pool trade was a buy order because Atmos Energy stock rose following the trade being made public.

Atmos Energy stock chart on November 24 2022 with a dark pool trade shown with an orange bar
Atmos Energy stock chart on November 24 2022 with a dark pool trade shown with an orange bar

Atmos Energy Corporation Reports Earnings for Fiscal 2022

On November 9, 2022, Atmos Energy Corporation reported consolidated results for its fourth fiscal quarter and year ended September 30, 2022. The company reported impressive beats on both EPS and revenue. Atmos Energy reported Q4 EPS of 51c versus the consensus estimate of 43c. The company reported Q4 revenue of $722.63M versus the consensus estimate of $559.54M.

Atmos Energy guidance for FY23 EPS is $5.90-$6.10 versus the consensus forward guidance of $5.95. The company forecasts FY23 CapEx at around $2.7B.

“Fiscal 2022 marked the 11th year of executing our proven strategy of operating safely and reliably while we modernize our natural gas distribution, transmission, and storage systems,” said Kevin Akers, President and CEO of Atmos Energy. “Fiscal 2022 also marked the 20th consecutive year of earnings per share growth. Our consistent financial performance is a testament to our employees’ continued commitment and focus on executing our strategy while providing exceptional customer service,” Akers concluded.

Atmos Energy price target raised at Credit Suisse

On November 14, 2022, Nicholas Campanella of Credit Suisse raised the price target for Atmos Energy from $105 to $121 while maintaining an Outperform rating for the stock. The 2022 results and updated long-term outlook are encouraging to the analyst.

Energy is the right sector to be in going into the new year, says Fundstrat’s Mark Newton

Energy is the right sector to be in going into the new year, says Fundstrat's Mark Newton
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