Stocks are trading lower this morning after a mixed session yesterday. Nevertheless, Wall Street’s tracking for its second straight positive week in continuation of February’s strength. So far this month, the Dow is up 4.8%, the S&P 500 is up 5.4% and the Nasdaq has risen an impressive 7.3%.
In today’s trade alert we’ll turn our focus towards the utility sector, to a firm that has proven it’s dedication to it’s investors year after year. Stocks such as this one provide an important aspect to a well rounded portfolio.
Atmos Energy Corporation (ATO) is the nation’s largest fully regulated, natural gas-only distributor. The Dallas-headquartered firm serves more than 3 million distribution customers in more than 1,400 communities across eight states, with a large presence in Texas and Louisiana.
Analysts, who are mostly bullish on the name, point to ATO‘s strong fundamentals and increasing U.S. demand for natural gas. A robust balance sheet and potential for above-average earnings growth also recommend the stock. Of 12 analysts offering recommendations for the stock 5 rate the stock a Strong Buy and 4 rate it a Buy. There are also 2 Hold ratings and 1 Sell rating.
Indeed, Wall Street forecasts the company to generate average annual earnings growth of 6.6% over the next three to five years. For dividend stocks in the utility sector, that’s A-OK.
Atmos was added to the dividend aristocrats in January 2020 and clinched its 26th straight year of dividend growth in November 2020, when it announced an 8.7% increase to 62.5 cents a share per quarter. The stock currently sports an annual yield of 2.8%.
When a firm manages to raise its dividend year after year, through recession, war, market crashes and more, it’s making a powerful statement about both its financial resilience and its commitment to shareholders. That’s why Atmos is likely a reliable investment for the foreseeable future.
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