Atmos Energy

Published : February 14th, 2018

Ray Dalio's Bridgewater Bets on Utilities in 4th Quarter

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Ray Dalio's Bridgewater Bets on Utilities in 4th Quarter

- By Sydnee Gatewood

Ray Dalio (Trades, Portfolio)'s Bridgewater Associates, the largest hedge fund in the world, released its fourth-quarter 2017 portfolio on Tuesday, listing 51 new positions.


Among the firm's buys for the quarter were six utility companies: PG&E Corp. (PCG), PPL Corp. (PPL), Edison International (EIX), Southern Co. (SO), OGE Energy Corp. (OGE) and Atmos Energy Corp. (ATO).

PG&E

Having previously closed a position in PG&E in the third quarter of 2015, Bridgewater established a new holding of 846,531 shares for an average price of $56.04 per share. The holding was given 0.31% portfolio space.

The San Francisco-based electric utility company has a market cap of $20.26 billion; its shares were trading around $39.34 on Wednesday with a price-earnings (P/E) ratio of 12.30, a price-book (P/B) ratio of 1.06 and a price-sales (P/S) ratio of 1.18.

The Peter Lynch chart below shows the stock is trading below its fair value, suggesting it is undervalued.

View photos
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Atmos' financial strength was rated 4 out of 10 by GuruFocus. Its profitability and growth was rated 5 of 10. The company's trailing dividend yield is 2.30% and its forward dividend yield is 2.41%. The payout ratio is 34%.

Simons has the largest position in Atmos, holding 0.26% of outstanding shares. Pioneer Investments also holds the stock.

Other trades

During the quarter, Bridgewater also added to its holdings in other utility companies, including Great Plains Energy Inc. (GXP), Xcel Energy Inc. (XEL), Alliant Energy Corp. (LNT), CenterPoint Energy Inc. (CNP), FirstEnergy Corp. (FE) and Scana Corp. (SCG).

While Dalio stepped down from his co-CEO role last April, he remains at the Westport, Connecticut-based hedge fund he founded as co-chief investment officer and co-chairman. The majority of Bridgewater's long portfolio is composed of exchange-traded funds as of the end of the fourth quarter. Utilities make up 0.9% of the portfolio.

Disclosure: No positions.

This article first appeared on GuruFocus.


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Atmos Energy

CODE : ATO
ISIN : US0495601058
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Atmos Energy is based in United states of america.

Atmos Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 10.1 billions as of today (€ 8.7 billions).

Its stock quote reached its lowest recent point on September 14, 1984 at US$ 1.34, and its highest recent level on December 08, 2017 at US$ 93.56.

Atmos Energy has 110 958 181 shares outstanding.

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