Morgan Stanley Cuts ONE Gas (NYSE:OGS) Price Target to $87.00

ONE Gas (NYSE:OGSGet Rating) had its price target trimmed by Morgan Stanley from $89.00 to $87.00 in a research report report published on Thursday, Stock Target Advisor reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Several other research analysts have also issued reports on the company. Mizuho cut their price target on ONE Gas from $92.00 to $90.00 and set a neutral rating on the stock in a report on Wednesday, August 3rd. StockNews.com upgraded ONE Gas from a sell rating to a hold rating in a report on Wednesday, August 10th. Finally, Wells Fargo & Company cut their price target on ONE Gas from $98.00 to $90.00 and set an overweight rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $87.50.

ONE Gas Stock Up 1.1 %

Shares of ONE Gas stock opened at $79.84 on Thursday. ONE Gas has a one year low of $62.52 and a one year high of $92.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.84. The stock’s 50-day moving average is $81.25 and its 200 day moving average is $83.72. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 3.92 and a beta of 0.55.

ONE Gas (NYSE:OGSGet Rating) last announced its earnings results on Monday, August 1st. The utilities provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). ONE Gas had a net margin of 9.34% and a return on equity of 8.85%. The business had revenue of $428.98 million for the quarter, compared to the consensus estimate of $328.48 million. During the same quarter in the previous year, the company earned $0.56 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. Equities research analysts anticipate that ONE Gas will post 4.07 EPS for the current year.

ONE Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, August 12th. ONE Gas’s dividend payout ratio (DPR) is presently 63.27%.

Institutional Trading of ONE Gas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of ONE Gas by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,893,334 shares of the utilities provider’s stock worth $520,027,000 after purchasing an additional 68,538 shares during the last quarter. State Street Corp increased its position in shares of ONE Gas by 0.3% during the second quarter. State Street Corp now owns 2,017,284 shares of the utilities provider’s stock valued at $163,783,000 after acquiring an additional 5,321 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of ONE Gas by 19.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,421,983 shares of the utilities provider’s stock valued at $110,332,000 after acquiring an additional 234,312 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ONE Gas by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,360,580 shares of the utilities provider’s stock valued at $120,012,000 after acquiring an additional 140,451 shares during the last quarter. Finally, Eaton Vance Management increased its position in shares of ONE Gas by 10.3% during the first quarter. Eaton Vance Management now owns 961,203 shares of the utilities provider’s stock valued at $84,817,000 after acquiring an additional 89,588 shares during the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Company Profile

(Get Rating)

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states.

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