Atmos Energy Corp

ATO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$271.00	Xtfxln	Pmxcqcnjw

Atmos Energy Earnings: Strong Capital Investment Opportunities Support Above-Average Growth

Andrew Bischof

Nov 9, 2023

We are reaffirming our $109 fair value estimate for Atmos Energy after the company reported fiscal 2023 earnings per share of $6.10, compared with $5.60 in the year-ago period. The shares are down 11% since hitting their high in July and now trade in line with our fair value estimate as of Nov. 8. Our narrow moat rating is unchanged.

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