Atmos Energy (ATO)
Utilities · Regulated natural gas distribution and transmission
Atmos Energy safely distributes natural gas to 3.4 million customers across eight states while operating regulated pipeline and storage infrastructure, generating stable cash flows through rate-recovery mechanisms.
What Atmos Energy does
Atmos Energy is a regulated natural gas utility that distributes natural gas through sales and transportation arrangements to approximately 3.4 million residential, commercial, public authority, and industrial customers across six distribution divisions in eight states. The company operates two primary segments: regulated natural gas distribution and related sales operations, and pipeline and storage operations including the Atmos Pipeline-Texas division and natural gas transmission operations in Louisiana. The company transports natural gas for others through its distribution and pipeline systems and employs rate designs and mechanisms that reduce regulatory lag and allow timely recovery of capital expenditures.
Themes: ["Natural gas distribution","Regulated utilities","Energy infrastructure","Capital-intensive operations","Renewable energy transition risk","Pipeline safety and integrity","Regulated rate recovery","Natural gas supply management","Workforce retention","Climate and regulatory compliance"]
Fundamentals
- Price$174.72 as of 2026-07-09 close
- Market cap$29.4B as of 2026-07-10
- 1-year return+14.1% as of 2026-07-09 close
- P/E21.81 as of 2026-07-10
- Net margin+27.6% as of 2026-07-10
- Gross margin+48.1% as of 2026-07-10
- ROE+9.6% as of 2026-07-10
- Debt / equity0.65 as of 2026-07-10
- Revenue growth (YoY)+8.8% as of 2026-07-10
- Revenue CAGR (3y)+3.8% SEC XBRL
- Beta0.61 as of 2026-07-10
Dividend: yield +2.3%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Concentration of operations in Texas exposes company to regional economic and weather-related disruptions","Regulatory pressure from federal, state, and local authorities regarding safety, greenhouse gas emissions, and fossil fuel restrictions could increase compliance costs and restrict business growth","Significant capital expenditures required for distribution system modernization and pipeline integrity programs; inability to access credit markets or recover costs timely could impair financial performance"]
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.