5 Best American Dividend Stocks to Buy Now

3. Atmos Energy Corporation (NYSE:ATO)

Dividend Yield as of October 4: 2.59%

Atmos Energy Corporation (NYSE:ATO) is a Texas-based natural gas distribution company that serves over three million customers in the state. The company is one of the best dividend stocks on our list as it holds a 37-year track record of consistent dividend growth. It currently pays a quarterly dividend of $0.68 per share, with a dividend yield of 2.59%, as recorded on October 4.

In fiscal Q3 2022, Atmos Energy Corporation (NYSE:ATO) reported a total investment income of $816.4 million, up 34.8% from the same period last year. The company’s operating cash flow for the quarter stood at $288.8 million, compared with $74.2 million in the prior-year quarter. In August, it paid its 155th consecutive quarterly dividend to shareholders.

In July, Barclays maintained an Equal Weight rating on Atmos Energy Corporation (NYSE:ATO) with a $115 price target as the firm updated its price targets for the North American power and utility sectors.

The number of hedge funds tracked by Insider Monkey owning stakes in Atmos Energy Corporation (NYSE:ATO) grew to 21 in Q2 2022, from 16 in the previous quarter. These stakes hold a combined value of $852.5 million, compared with $636 million worth of stakes owned by hedge funds in the preceding quarter.

Aristotle Capital Management mentioned Atmos Energy Corporation (NYSE:ATO) in its Q1 2022 investor letter. Here is what the firm has to say:

“Headquartered in Dallas, Atmos Energy is the largest fully regulated natural gas-only utility in the U.S. It serves over three million distribution customers across eight states, primarily in the South. Approximately 70% of its revenue comes from Texas, where it owns one of the largest natural gas pipeline systems in the state. (Click here to view the full text)