The Kentucky Public Service Commission (PSC) has approved a revised rate increase for Atmos Energy Corporation, significantly lower than the amount the company initially requested. Atmos Energy filed for a $33,011,164 increase (17.9%) in 2024, including a $9.59 monthly charge for residential customers. The PSC approved only an $15,728,013 increase (8.4%), with the monthly residential charge rising from $19.30 to $25.00 ($5.70 increase, or 29.5%). Gas charges also increased slightly, from $1.5483 to $1.6261 per Mcf (5.02%). A typical customer using 5.2 Mcf per month will see their average bill rise from $27.35 to $33.73, an increase of $6.38 (23.34%). The PSC also expanded the Pipeline Replacement Program cap from $28 million to $40 million annually and included Aldyl-A pipe replacement for safety, recognizing Atmos Energy's efforts in pipeline safety improvements. The only intervenor in the case was the Attorney General’s Office, after Kentucky Industrial Utility Customers, Inc. withdrew its intervention. Atmos Energy, headquartered in Dallas, serves about 3.3 million customers across eight states, with 180,694 in Kentucky.

Blair William & Co. IL reduced its holdings in Atmos Energy Corporation (NYSE:ATO) by 42.0% in the first quarter, selling 1,317 shares and ending with 1,818 shares valued at $281,000. Other institutional investors such as First Horizon Advisors Inc., Cary Street Partners Financial LLC, South Plains Financial Inc., Golden State Wealth Management LLC, and Bank of New Hampshire adjusted their positions, with some increasing stakes significantly. Atmos Energy reported quarterly earnings of $1.16 EPS, slightly below expectations, with revenue of $838.77 million, a 25.05% net margin, and a 9.00% return on equity. The company announced a $0.87 quarterly dividend, yielding 2.1% annually, with a payout ratio of 47.80%. Analysts from JPMorgan Chase, Argus, Morgan Stanley, Mizuho, and Wall Street Zen issued various ratings and price targets, resulting in a consensus 'Hold' rating and an average target price of $158.27. The stock has a market cap of $26.63 billion, trading between $127.43 and $167.45 over the past 52 weeks.

The Kentucky Public Service Commission denied Atmos Energy's initial request for a base rate increase and instead approved a smaller increase. The original proposal would have generated $33 million more in revenue and raised customer rates by $9.59 per month, but the final approved increase generates $15 million more in revenue and raises rates by $5.70 per month. Additionally, the commission raised the annual cap for Atmos Energy's Pipeline Replacement Project to $40 million.

The Kentucky Public Service Commission has set new base rates for Atmos Energy Corporation, which are lower than the utility's requested rates. The decision follows a review of Atmos Energy's rate application filed on September 27, 2024, and was made after determining that the proposed rates were not in the best interest of consumers. The revised rates are intended to reflect lower costs and improve affordability for residential and commercial customers in Kentucky.

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