Atmos Energy Corporation is one of the United States’ largest natural gas only distributors. The company is specialized on three activity supply, transport and storage of gas through ownership of natural gas storage facilities and associated pipeline facilities.

The company was heavily penalized also due to natural gas’ price, which is declined nearly 50% during the last 12 months, reaching historical low levels. On February 7th Atmos Energy reported consolidated results for its fiscal 2012 first quarter ended December 31, 2011. First quarter net income was $68.5 million, or $0.75 per diluted share, against a net income of $74.0 million, or $0.81 per diluted share in the prior-year quarter. According to Thomson Reuters’ consensus the company seems correctly valued with earnings price ratio nearly 13x and “enterprise value / revenue" ratio of 1.2x.

Technically, the share is in bearish trend on the short, mid and long-term. For begin of the year this movement is become more important. This trend push the stock before to broke the short term support at 31.5 USD and now on the long-term level of 30.7 USD. This area could give to share an opportunity to technical rebound on the short-term. Thus, we suggest to active investors to take a long strategy on the support tested by the share to target 32.05 USD. A stop loss is necessary under a support level in order to cover the position.