Press Release Eviden strengthens its data protection offering with Cosmian's technology A sovereign offer presented by Eviden at the Assises de la Cybersécurité in Monaco, from 8 to 11 October, booth M18 Paris, France – October 6, 2025 – Eviden, the Atos Group product brand leading in advanced computing, cybersecurity products, mission-critical systems and vision AI today announces the strengthening of its cybersecurity product offering through the integration of Cosmian’s Key Management System (KMS1). I ...

Core Insights - Atmos Energy Corporation (NYSE: ATO) is recognized as one of the best stocks for long-term investment due to its consistent revenue and dividend growth [1] - Mizuho has maintained a Neutral rating on Atmos Energy and raised its price target from $164 to $170, reflecting strong investor confidence and a year-to-date gain of 22.30% [2] - The company has achieved a gross profit margin of 57.95% and a revenue growth of 12.9% over the last 12 months, reaching an all-time high stock price of $169.02 [3] Company Overview - Atmos Energy operates pipelines, storage facilities, and regulated natural gas distribution across eight U.S. states, positioning itself as a strong investment option [4] Financial Performance - The company is expected to experience a 13–15% annual rate base growth, despite Mizuho's growth guidance of 6–8% [3] - Atmos Energy has a track record of 32 consecutive years of dividend increases, indicating strong fundamentals [3]

Economic Overview - Consumer confidence fell to 94.2 in September, a decline of 3.6 points month over month, missing the consensus estimate of 96 [4] - The Present Situation Index dropped 7 points to 125.4, indicating a negative assessment of current business and labor market conditions [4] - Short-term expectations for income, business conditions, and employment declined to 74.8, with readings below 80 suggesting a higher risk of recession [5] - Concerns over a shrinking labor market have negatively impacted consumer confidence, with job availability assessments declining for nine consecutive months [5] - High prices of goods, exacerbated by tariffs, continue to pressure consumer spending, while inflation remains a concern [6] Investment Recommendations - It is advisable to invest in safe-haven defensive stocks from the utility sector, including Atmos Energy Corporation (ATO), Consolidated Water Co. Ltd. (CWCO), NorthWestern Energy Group, Inc. (NWE), and Northwest Natural Holding Company (NWN), all carrying a Zacks Rank 2 (Buy) [2] - Recommended stocks are categorized as low-beta (beta greater than 0 but less than 1), suggesting a focus on low-beta stocks with high dividend yields and favorable Zacks Ranks [3] Company Profiles - **Atmos Energy Corporation (ATO)**: Engaged in regulated natural gas distribution and storage, serving approximately 3.3 million customers across eight states. Expected earnings growth rate is 7.3% for the current year, with a current dividend yield of 2.05% and a beta of 0.75 [7][8] - **Consolidated Water Co. Ltd. (CWCO)**: Focuses on seawater desalination and water distribution in areas with scarce potable water. Expected earnings growth rate is 0.9% for the current year, with a current dividend yield of 1.60% and a beta of 0.58 [9][10] - **NorthWestern Energy Group, Inc. (NWE)**: Provides reliable energy to customers in Montana, South Dakota, and Nebraska. Expected earnings growth rate is 5.6% for the current year, with a current dividend yield of 4.54% and a beta of 0.40 [11][12] - **Northwest Natural Holding Company (NWN)**: Builds and maintains natural gas distribution systems, serving residential, commercial, and industrial customers. Expected earnings growth rate is 25.3% for the current year, with a current dividend yield of 4.37% and a beta of 0.59 [13][14]

Paris, France – September 29, 2025 – Eviden, the Atos Group product brand leading in advanced computing, cybersecurity products, mission-critical systems and vision AI today announces a strategic partnership with Vates, a pioneering company in open-source virtualization solutions, to provide a European reliable, efficient, and future-proof virtualization solution, ready to meet real-world infrastructure demands. In a context where sovereignty, transparency, and control are increasingly strategic, this partn ...

Core Viewpoint - Atmos Energy (ATO) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the company's changing earnings picture [1][2]. - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Atmos suggest an improvement in the company's underlying business, likely leading to increased stock prices [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly Zacks Rank 1 stocks averaging a +25% annual return since 1988 [7]. - The system maintains a balanced distribution of "buy" and "sell" ratings across over 4,000 stocks, ensuring that only the top 20% receive a "Strong Buy" or "Buy" rating [9][10]. Specifics for Atmos Energy - Atmos is projected to earn $7.33 per share for the fiscal year ending September 2025, with no year-over-year change, but the Zacks Consensus Estimate has increased by 2% over the past three months [8].

Core Insights - Atmos Energy Corporation (ATO) is positioned as a strong investment option in the utility sector due to strategic acquisitions, the addition of industrial customers, and favorable rate outcomes contributing to revenue and profitability growth [1] Growth Projections - The Zacks Consensus Estimate for fiscal 2025 earnings per share (EPS) has increased by 1.2% to $7.33 over the past 90 days [2] - The estimated sales for fiscal 2025 are projected at $4.81 billion, reflecting a year-over-year increase of 15.6% [2] - ATO's long-term earnings growth rate is forecasted at 7.32%, with an average earnings surprise of 1.7% over the last four quarters [2] Liquidity Position - Atmos Energy's current ratio stands at 1.37, significantly higher than the industry average of 0.54, indicating sufficient short-term assets to cover liabilities [3] Debt Management - ATO's total debt to capital ratio is 40.21%, which is better than the industry average of 51.09% [4] - The time-to-interest earned ratio is 8.6, demonstrating the company's capability to meet future interest obligations comfortably [4] Capital Investments - Atmos Energy has a robust capital expenditure plan, with $3.7 billion earmarked for fiscal 2025 and a total of $24 billion planned over the next five years to enhance pipeline safety and reliability [5][6] - This investment strategy is expected to yield annual earnings growth of 6-8% during the same period [6] Dividend Policy - ATO currently pays a quarterly dividend of 87 cents per share, resulting in an annualized dividend of $3.48, up from $3.22 the previous year [7] - The company aims to increase its dividend by 6-8% annually through fiscal 2026, subject to board approval, with a current dividend yield of 2.09% [7] Stock Performance - Over the past year, Atmos Energy's shares have appreciated by 20.8%, outperforming the industry's growth of 8.2% [9]

Core Insights - Atos has been awarded a significant cybersecurity contract valued at a maximum of €326 million under the European Commission's CLOUD II Dynamic Purchasing System for Technical Operations Services [1][2][3] - The contract will prioritize essential cybersecurity services for European Union institutions, focusing on operational support, advisory guidance, and capability development [2][3] - Atos will collaborate with Leonardo as a consortium partner to deliver high standards of resilience and operational excellence in cybersecurity [3] Company Overview - Atos Group is a global leader in digital transformation with approximately 70,000 employees and annual revenue of around €10 billion, operating in 67 countries [4] - The company is recognized as the European leader in cybersecurity, cloud, and high-performance computing, committed to a secure and decarbonized future [4] - Atos provides tailored AI-powered, end-to-end solutions across various industries [4][5] Contract Details - The framework contract may extend for up to 48 months and encompasses various Technical Operations Services [3] - Services include Incident Response and Digital Forensics, Threat Intelligence and Monitoring, Malware Analysis, and Offensive Security [7]

Core Viewpoint - Atmos Energy Corporation (ATO) is a leading regulated natural gas distributor in the U.S., with a strong market presence and stable earnings model, focusing on modernization and safety investments [1][2]. Company Overview - Atmos Energy has a market capitalization of $26.2 billion and serves over 3.3 million customers across more than 1,400 communities in several states [1]. - The company is categorized as a large-cap stock, reflecting its significant size and influence in the regulated gas utilities sector [2]. Financial Performance - ATO reported a 19.6% year-over-year increase in revenue for Q3, totaling $838.8 million, slightly exceeding estimates [5]. - Earnings per share (EPS) for the quarter matched forecasts at $1.16, while net income rose 12.6% to $186.4 million, driven by customer growth and substantial infrastructure investments [5]. - The company has raised its full-year EPS outlook to between $7.35 and $7.45 and declared a dividend of $0.87 [5]. Stock Performance - ATO shares have seen a 3.6% increase following the Q3 results announcement [5]. - Year-to-date, ATO shares have risen 16.6%, and over the past 52 weeks, they have climbed 19%, outperforming the Utilities Select Sector SPDR Fund (XLU) [4]. - Despite a recent retreat of 3.8% from a 52-week high of $168.86, ATO stock has gained 6.6% over the past three months [3][4]. Investment Strategy - A significant portion of Atmos Energy's strategy is focused on system modernization and safety, with $2.6 billion in infrastructure investments, 86% of which are aimed at enhancing safety and reliability [5].

Industry Overview - Natural gas distribution companies transport natural gas from production regions to consumers across the U.S., with a significant underground pipeline network of 2.6 million miles [2] - The shale revolution has increased natural gas production, leading to higher demand due to its clean-burning nature [2] - The U.S. has 3,353 trillion cubic feet of natural gas, and the industry faces challenges such as aging infrastructure and rising investment costs due to interest rate hikes [2] Future Outlook - The U.S. Energy Information Administration (EIA) projects that domestic dry natural gas production will increase in 2025, particularly in the Permian Basin [3] - EIA expects U.S. liquefied natural gas (LNG) export volumes to rise by 25% year-over-year in 2025 and by 6.7% in 2026, highlighting the importance of gas pipelines for transportation to export terminals [3] Interest Rate Impact - The Federal Reserve's recent interest rate cut of 100 basis points to a range of 4.25-4.5% is expected to benefit capital-intensive utilities, allowing for easier access to financing for infrastructure upgrades [4] - Further rate cuts are anticipated in 2026, which would positively impact utility operators planning large investments [4] Competitive Landscape - Natural gas faces increasing competition from renewable energy sources, which are becoming cheaper and more reliable due to advancements in technology and battery storage [5] - The rise of on-site generation reduces reliance on long-distance infrastructure, posing economic risks for new pipeline investments [5] Industry Performance - The Zacks Utility Gas Distribution industry currently ranks 190, placing it in the bottom 22% of the 245 Zacks industries, indicating weak near-term prospects [6] - Earnings estimates for the industry have decreased by 20.9% since September 31, 2024, reflecting a negative outlook [7] Stock Market Performance - Over the past year, the Gas Distribution industry has gained 6.5%, outperforming the Utility sector's growth of 5.4% but lagging behind the Zacks S&P 500 composite's 19.9% increase [9] Valuation Metrics - The industry is trading at a trailing 12-month EV/EBITDA ratio of 11.28X, compared to 18.35X for the Zacks S&P Composite 500 and 15.06X for the sector [12] - Historical trading ranges for the industry have been between 9.55X and 12.4X, with a median of 10.9X over the past five years [12] Company Highlights - **Sempra Energy (SRE)**: Plans to invest $56 billion from 2025-2029, with a current dividend yield of 3.09% and long-term earnings growth projected at 7.01% [18][19] - **Atmos Energy (ATO)**: Invested $2.94 billion in fiscal 2024 and plans to invest $3.7 billion in fiscal 2025, with a current dividend yield of 2.1% and long-term growth of 7.32% [22][23] - **New Jersey Resources (NJR)**: Aims to invest $650-$770 million in fiscal 2025 and $655-$835 million in fiscal 2026, with a current dividend yield of 3.82% [26][27] - **ONE Gas Inc. (OGS)**: Plans to invest $4 billion through 2029, with a current dividend yield of 3.53% and long-term growth projected at 5.56% [30][31]

Core Viewpoint - The stock market is currently at a critical juncture, making it challenging to predict the outlook for 2026 [1] Group 1 - The current state of the stock market indicates significant uncertainty, which could impact investment strategies moving forward [1] - Analysts are divided on the potential direction of the market, reflecting a range of opinions on economic indicators and corporate performance [1] - The inflection point suggests that investors should closely monitor market trends and economic data to make informed decisions [1]