Here's Why Atmos Energy (ATO) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Atmos Energy (ATO)
Founded in 1906, Atmos Energy Corporation, along with its subsidiaries, is engaged in regulated natural gas distribution and storage business. The company serves nearly 3.3 million customers in more than 1,400 communities in eight states from the Blue Ridge Mountains in the East to the Rocky Mountains in the West. The company operates more than 73,000 miles of transmission and distribution lines as well as 5,700 miles of interstate pipelines. Atmos Energy’s pipelines are connected to 37 different pipelines across eight states, thereby providing supplier diversity.
ATO sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 0.9% and up 1.2% over the past one-week and four-week period, respectively, and Atmos Energy has gained 0.7% in the last one-year period as well. Additionally, an average of 1,625,674 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For ATO, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $6.54 per share for 2024. ATO boasts an average earnings surprise of 1.1%.
ATO should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Atmos Energy Corporation (ATO) : Free Stock Analysis Report
