Atmos Energy $ATO stock formed a bullish engulfing candlestick (shown in red box on chart below) on November 29, 2022. The stock is in a technical weak uptrend. The stock is trading in a powerful uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... pattern with what looks like dark pool buying.
The rocket blastoff on the money flow is impressive but above 0.2 suggests that the money flow has hit a level that usually results in profit taking, so be careful not to chase $ATO stock higher.
Dark Pool Buying In Atmos Energy $ATO Stock
Dark pool buying occurred in Atmos Energy $ATO stock on November 28, 2022. The dark pool trades were valued at $15 million and $16 million. Both trades occurred when $ATO stock was trading at $118.07. We think the dark pool trades were buy orders because $ATO stock rose following the trades hitting the tape.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
What really got institutional investors buying Atmos Energy $ATO was the impressive EPS and revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... beats.
Atmos Energy Reports Earnings for Fiscal 2022
On November 9, 2022, Atmos Energy (NYSE: ATO) reported consolidated results for its fourth fiscal quarter and year ended September 30, 2022. The company crushed its EPS and revenue estimates, which ignited the engines and the subsequent blast off of $ATO stock. 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 forecasts FY23 EPS of $5.90-$6.10 versus the consensus estimate of $5.95. The company sees FY23 CapEx at roughly $2.7B.
The company’s Board of Directors declared a quarterly dividend of $0.74 per common share. The indicated annual dividend for fiscal 2023 is $2.96, which represents an 8.8% increase over fiscal 2022.
“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.