Core Viewpoint - Atmos Energy Corporation (ATO) is recognized as a leading US company in the regulated natural gas utilities sector, with a strong history of consistently increasing earnings per share [1]. Group 1: Company Performance - Atmos Energy has an impressive track record of consistently increasing its earnings per share, indicating strong financial performance and stability [1].

Core Viewpoint - Atmos Energy Corporation (ATO) is recognized as a leading US company in the regulated natural gas utilities sector, with a strong history of consistently increasing earnings per share [1]. Company Summary - Atmos Energy has demonstrated an impressive track record in financial performance, particularly in earnings per share growth [1].

Core Viewpoint - Atmos Energy Corporation (NYSE: ATO) is experiencing mixed analyst calls, with UBS raising its price target while Morgan Stanley downgrades its rating, reflecting differing outlooks on the utility sector and company performance [1][2]. Analyst Ratings - UBS raised its price target on Atmos Energy to $174 from $159, maintaining a Neutral rating, indicating a more positive view on valuation despite ongoing sector risks [1]. - Morgan Stanley downgraded Atmos Energy to Equal Weight from Overweight and reduced its price target to $172 from $182, citing expectations for utility stock performance influenced by data center demand and regulatory risks in an election year [2]. Operational Performance - Atmos Energy reported its Q4 2025 earnings, marking the 14th consecutive year of executing its strategy focused on safety and reliability, with capital spending in FY25 totaling $3.6 billion, of which 87% was allocated to safety and reliability investments [3]. Shareholder Returns - Atmos Energy announced a 15% increase in its quarterly dividend, extending its dividend growth streak to 41 consecutive years, which is significant for income-focused investors [4].

Core Viewpoint - Atmos Energy (ATO) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [3]. Business Improvement Indicators - The upgrade in ratings and rising earnings estimates suggest an improvement in Atmos Energy's underlying business, which could lead to higher stock prices as investors respond positively [4]. Importance of Earnings Estimate Revisions - Tracking earnings estimate revisions is crucial for investment decisions, and the Zacks Rank system effectively leverages this information [5]. - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance of Zacks Rank 1 stocks averaging a +25% annual return since 1988 [6]. Specific Earnings Estimates for Atmos - For the fiscal year ending September 2026, Atmos Energy is expected to earn $8.02 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 2.7% over the past three months [7]. Zacks Rating System Overview - The Zacks rating system maintains a balanced distribution of "buy" and "sell" ratings across over 4,000 stocks, with only the top 20% receiving a "Strong Buy" or "Buy" rating [8][9]. - Atmos Energy's upgrade to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [9].

分组1 - A number of natural gas utility companies have experienced a decline in their stock prices over the past few weeks [1] - ONE Gas, Inc. (OGS) is highlighted as a company operating in this sector, which has been analyzed recently [1] - The article emphasizes that the best investment opportunities often arise from stocks that are less followed by average investors or those that do not accurately reflect current market opportunities [1]

Core Insights - Spire Inc. (SR) is focusing on systematic investments in infrastructure upgrades and acquisitions to enhance service reliability and expand operations [1] - The company's long-term earnings growth rate is projected at 10.54% over the next three to five years [1] Investment Plans - SR plans to invest $809 million in fiscal 2026 across various regions, with allocations of $535 million for Missouri, $170 million for Alabama, Gulf, and Mississippi, $90 million for Tennessee, and $14 million for Midstream [2] - A systematic long-term investment of nearly $4.8 billion is planned for the period 2026-2030, with a total 10-year capital investment expected to reach $11.2 billion [3] - Of the total investment, 70% is dedicated to enhancing system safety and reliability, while approximately 19% is aimed at supporting customer expansion [3] Acquisitions - SR's acquisitions align with its long-term growth objectives, expanding its regulated utility footprint and geographic reach [4] - The company plans to acquire the Tennessee natural gas operations of Piedmont Natural Gas for $2.48 billion, which includes nearly 3,800 miles of pipelines and will add over 200,000 customers, significantly expanding its service territory into the Nashville metro area [4] Operational Challenges - As a holding company, SR operates through its subsidiaries, which hold major assets and perform all operations; underperformance of these units could hinder the company's ability to meet financial obligations [5] - SR's operations are subject to various environmental laws and regulations, which can increase operating costs and pose risks of fines, penalties, or operational disruptions [6] Market Performance - Over the past year, SR shares have increased by 19.6%, outperforming the industry's growth of 9.2% [7]

Core Viewpoint - Black Hills Corp. has filed a rate review application with the Arkansas Public Service Commission, seeking $29.4 million in new annual revenue to cover capital infrastructure and operational costs for its natural gas utility serving over 189,000 customers in Arkansas [1][2]. Summary by Sections Rate Review Application - The company is requesting $29.4 million in new annual revenue to recover necessary costs for safe and reliable natural gas service [1]. - This request is based on a capital structure of 50.2% equity and 49.8% debt, with a targeted return on equity of 10.5% [3]. Infrastructure Investments - Black Hills Corp. aims to recover approximately $147 million invested in safety, reliability, and system integrity for its natural gas pipeline infrastructure since the last general rate filing in 2023 [2]. - These investments are essential for system growth and compliance with state and federal regulations [2]. Company Overview - Black Hills Corp. serves 1.35 million natural gas and electric utility customers across eight states, including Arkansas, Colorado, and South Dakota [4]. - The company emphasizes its commitment to providing safe and reliable natural gas service while supporting growth through critical infrastructure investments and prudent cost management [3].

Core Viewpoint - ONE Gas is conducting a financial guidance conference call to discuss its projections for 2026, indicating a focus on future performance and expectations [2]. Group 1: Financial Guidance - The financial guidance presentation is available on the Investor page of the ONE Gas website, highlighting the company's commitment to transparency and investor communication [2]. - The call includes forward-looking statements regarding ONE Gas's expectations, which are protected under safe harbor provisions, indicating a cautious approach to future projections [3]. Group 2: Leadership Participation - The conference call features key executives including Sid McAnnally (President and CEO), Chris Sighinolfi (Senior VP and CFO), and Curtis Dinan (Senior VP and COO), showcasing the involvement of top management in investor relations [4].

Financial Performance & Outlook - ONE Gas expects net income for 2026 to be in the range of $294 million to $302 million[12] - The company anticipates an EPS range of $4.65 to $4.77 per diluted share, assuming approximately 63.4 million diluted shares outstanding[12] - Long-term net income growth is projected at 7-9% for the 2025-2030 period[21] - Long-term EPS growth is expected to be 5-7%, raised from a previous estimate of 4-6%[21] Capital Investments & Rate Base - 2026 capital investments are estimated at approximately $800 million, with around $230 million allocated to customer growth[12] - The average rate base for 2026 is projected to be approximately $6.3 billion[12] - Capital investments from 2022 to 2026G are: System Integrity ~$2.5 billion, Customer Growth ~$1.2 billion[21] - Average annual rate base growth is expected to be 7-9%[21] Financing Activities - ONE Gas completed a $250 million term loan in August 2025, maturing in September 2026[12] - The company has forward sale agreements covering approximately 2.9 million shares at an average price of ~$78/share, totaling ~$226 million[12, 16] - Net long-term financing needs through 2030 are estimated at ~$1.3 billion, with approximately 30% expected to be equity issuances[14] Market Position - ONE Gas has a 71% market share in Kansas, 89% in Oklahoma, and 13% in Texas[8]

Core Points - ONE Gas, Inc. announced the retirement of John W. Gibson as chair of the board after the Annual Meeting for Shareholders in May 2026, marking his leadership since the company's inception in 2014 [1] - Deborah A.P. Hersman has been elected as the new chair of the board, effective May 21, 2026, following a comprehensive succession planning process [1] - Hersman brings extensive experience in safety, technology, and public policy, having previously served as chair of the National Transportation Safety Board and chief safety officer of Waymo [1][6][7] Company Overview - ONE Gas, Inc. is a 100-percent regulated natural gas utility, trading on the New York Stock Exchange under the symbol "OGS" and included in the S&P MidCap 400 Index [3] - The company provides reliable and affordable energy to over 2.3 million customers across Kansas, Oklahoma, and Texas, with divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service [4] Leadership Transition - John W. Gibson's leadership is credited with creating value for shareholders and establishing a framework for growth during his tenure [1] - Deborah Hersman's election is seen as a move to strengthen the board's diversity of experience and strategic focus, aligning with the company's commitment to operational excellence and sustainable growth [1][2]