Dividend Kings and Aristocrats List: 32 Biggest Stocks

20. Atmos Energy Corporation (NYSE:ATO)

Market Cap as of March 24: $30.03 Billion

On March 23, Morgan Stanley raised its price recommendation on Atmos Energy Corporation (NYSE:ATO) to $197 from $192. It reiterated an Equal Weight rating on the shares. The analyst said the firm is updating price targets across regulated and diversified utilities and IPPs in North America under its coverage. In February, utilities outperformed the S&P’s return. The firm also noted that recent discussions in the sector have been broadly constructive. Companies pointed to growth opportunities, stronger load growth, and new deals tied to data centers.

Management reaffirmed its fiscal 2026 earnings per share guidance in the range of $8.15 to $8.35. It also confirmed that the capital spending plan will remain at $4.2 billion. CEO John Akers said the company plans to grow its dividend in line with its targeted annual EPS growth of 6% to 8%.

CFO Christopher Forsythe noted that the $35 million quarterly benefit linked to Texas House Bill 4384 should not be treated as recurring. He said the actual impact will depend on timing, including spending levels, project completions, and overall operational activity.

Atmos Energy Corporation (NYSE:ATO) operates as a natural gas-only distributor. The company serves more than 3.3 million customers across over 1,400 communities in eight states, primarily in the southern United States.