Pictet Asset Management SA lifted its position in ONE Gas, Inc. (NYSE:OGS – Get Rating) by 442.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,063 shares of the utilities provider’s stock after purchasing an additional 16,363 shares during the quarter. Pictet Asset Management SA’s holdings in ONE Gas were worth $1,629,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. 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 valued at $520,027,000 after purchasing an additional 68,538 shares in the last quarter. State Street Corp raised its stake in ONE Gas by 14.8% during the first quarter. State Street Corp now owns 2,011,963 shares of the utilities provider’s stock worth $177,536,000 after acquiring an additional 258,905 shares in the last quarter. Victory Capital Management Inc. raised its stake in 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 worth $120,012,000 after acquiring an additional 140,451 shares in the last quarter. Eaton Vance Management raised its stake in ONE Gas by 10.3% during the first quarter. Eaton Vance Management now owns 961,203 shares of the utilities provider’s stock worth $84,817,000 after acquiring an additional 89,588 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ONE Gas by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 868,003 shares of the utilities provider’s stock worth $76,591,000 after acquiring an additional 10,129 shares in the last quarter. 83.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at ONE Gas
In related news, Director Eduardo A. Rodriguez sold 800 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $76.58, for a total value of $61,264.00. Following the transaction, the director now owns 10,019 shares in the company, valued at $767,255.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by company insiders.
ONE Gas Price Performance
ONE Gas (NYSE:OGS – Get Rating) last posted its quarterly earnings results on Monday, October 31st. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $359.36 million for the quarter, compared to analysts’ expectations of $280.05 million. ONE Gas had a return on equity of 8.88% and a net margin of 9.14%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Equities research analysts expect that ONE Gas, Inc. will post 4.07 EPS for the current fiscal year.
ONE Gas Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Monday, November 14th. ONE Gas’s dividend payout ratio is 62.31%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on OGS shares. Guggenheim dropped their price objective on ONE Gas from $86.00 to $70.00 in a research note on Monday, October 24th. Wells Fargo & Company dropped their price objective on ONE Gas from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Morgan Stanley increased their price objective on ONE Gas from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, November 11th. Mizuho decreased their target price on ONE Gas from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, November 10th. Finally, StockNews.com assumed coverage on ONE Gas in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.80.
ONE Gas Company Profile
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.
- Get a free copy of the StockNews.com research report on ONE Gas (OGS)
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