NEW YORK ( TheStreet) -- Shares of Atlas Energy (NYSE: ATLS) have taken a tremendous swing upward. The stock is trading at $32 as of 1:30 p.m. ET, 20.2% above Thursday's closing price of $26.62. Volume is at 1.3 million, 3.2 times the daily average of 405,600.

Atlas Energy has a market cap of $1.3 billion and is part of the utilities sector and utilities industry. Shares are up 9.5% year to date as of the close of trading on Thursday.

Atlas Energy, L.P., a midstream energy service company, engages in the gathering and processing of natural gas in the Mid-Continent and Appalachia regions. The company has a P/E ratio of 29.8, above the average utilities industry P/E ratio of 26.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Atlas Energy as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and generally poor debt management. You can view the full Atlas Energy Ratings Report.

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