Atmos Energy Initiates New Five-Year Investment Plan
We are reaffirming our $85 per share fair value estimate after Atmos Energy reported modestly weaker results for the 2018 fiscal-year third quarter, reaffirmed earnings guidance, and reaffirmed its $1.4 billion capital expenditure forecast.Earnings for the quarter were $0.64 per share versus $0.67 per share in the same period last year. As we expected, distribution expenses in the quarter were $12.3 million higher, to $111.9 million, due in part to costs related to the gas leak incidents in no...
Atmos Energy is engaged in the regulated natural gas distribution and pipeline and storage businesses. The company delivers natural gas through regulated sales and transportation arrangements to residential, commercial, public-authority and industrial customers. The company's segments are: Distribution, which is comprised of its regulated natural gas distribution and related sales operations; and Pipeline and Storage, which consists of the pipeline and storage operations of its Atmos Pipeline-Texas Division (APT) and its natural gas transmission operations in Louisiana. APT has intrastate pipeline operations in Texas with a focus on the natural gas-producing areas of central, northern and eastern Texas.
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