Principal Financial Group Inc. Acquires 66,683 Shares of ONE Gas, Inc. (NYSE:OGS)

Principal Financial Group Inc. increased its holdings in shares of ONE Gas, Inc. (NYSE:OGSGet Rating) by 36.8% during the second quarter, HoldingsChannel.com reports. The fund owned 247,893 shares of the utilities provider’s stock after buying an additional 66,683 shares during the quarter. Principal Financial Group Inc.’s holdings in ONE Gas were worth $20,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Yousif Capital Management LLC lifted its holdings in ONE Gas by 3.2% during the second quarter. Yousif Capital Management LLC now owns 30,184 shares of the utilities provider’s stock worth $2,451,000 after acquiring an additional 940 shares during the period. New York State Common Retirement Fund lifted its holdings in ONE Gas by 26.7% during the first quarter. New York State Common Retirement Fund now owns 48,183 shares of the utilities provider’s stock worth $4,252,000 after acquiring an additional 10,151 shares during the period. WINTON GROUP Ltd lifted its holdings in ONE Gas by 57.6% during the first quarter. WINTON GROUP Ltd now owns 9,426 shares of the utilities provider’s stock worth $832,000 after acquiring an additional 3,444 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 during the period. Finally, Victory Capital Management Inc. lifted its holdings 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 during the period. 83.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on OGS. Mizuho dropped their price target on ONE Gas from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, November 10th. Guggenheim decreased their target price on ONE Gas from $86.00 to $70.00 in a research report on Monday, October 24th. StockNews.com began coverage on ONE Gas in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company decreased their target price on ONE Gas from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Finally, Morgan Stanley raised their target price on ONE Gas from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, November 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.80.

Insider Activity at ONE Gas

In related news, Director Eduardo A. Rodriguez sold 800 shares of ONE Gas stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $76.58, for a total transaction of $61,264.00. Following the completion of the sale, the director now owns 10,019 shares of the company’s stock, valued at $767,255.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.38% of the stock is owned by corporate insiders.

ONE Gas Price Performance

Shares of NYSE OGS opened at $85.83 on Tuesday. The stock has a market cap of $4.65 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 4.17 and a beta of 0.60. ONE Gas, Inc. has a fifty-two week low of $64.37 and a fifty-two week high of $92.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.56 and a current ratio of 0.87. The stock has a fifty day moving average of $76.70 and a 200-day moving average of $80.47.

ONE Gas (NYSE:OGSGet Rating) last announced its quarterly earnings results on Monday, October 31st. The utilities provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $359.36 million during 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 period in the previous year, the business earned $0.38 earnings per share. Equities research analysts anticipate that ONE Gas, Inc. will post 4.07 earnings per share for the current year.

ONE Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, November 14th. ONE Gas’s dividend payout ratio is 62.31%.

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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Institutional Ownership by Quarter for ONE Gas (NYSE:OGS)

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