State of Alaska Department of Revenue trimmed its holdings in ONE Gas, Inc. (NYSE:OGS – Get Rating) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 7,511 shares of the utilities provider’s stock after selling 260 shares during the quarter. State of Alaska Department of Revenue’s holdings in ONE Gas were worth $528,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its position in ONE Gas by 206.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 306 shares of the utilities provider’s stock valued at $25,000 after buying an additional 206 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in ONE Gas by 85.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 346 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Venture Visionary Partners LLC bought a new stake in ONE Gas during the 2nd quarter worth approximately $34,000. Lazard Asset Management LLC bought a new stake in ONE Gas during the 2nd quarter worth approximately $47,000. Finally, J.W. Cole Advisors Inc. bought a new stake in ONE Gas during the 1st quarter worth approximately $53,000. 83.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
OGS has been the subject of a number of recent research reports. Bank of America lowered ONE Gas from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $79.00 in a report on Friday, December 16th. Mizuho decreased their price objective on ONE Gas from $88.00 to $80.00 in a report on Friday, December 2nd. Wells Fargo & Company upped their target price on ONE Gas to $82.00 in a report on Wednesday, December 14th. Guggenheim lowered ONE Gas from a “neutral” rating to a “sell” rating and set a $64.00 target price for the company. in a report on Thursday, December 1st. Finally, Morgan Stanley reduced their target price on ONE Gas from $76.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 2nd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.83.
ONE Gas Stock Performance
Shares of OGS opened at $80.09 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.56. ONE Gas, Inc. has a one year low of $68.86 and a one year high of $92.26. The company has a 50-day simple moving average of $79.12 and a two-hundred day simple moving average of $78.97. The firm has a market capitalization of $4.34 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 3.82 and a beta of 0.66.
ONE Gas (NYSE:OGS – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The utilities provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. ONE Gas had a net margin of 9.14% and a return on equity of 8.88%. The business had revenue of $359.36 million during the quarter, compared to analyst estimates of $280.05 million. During the same period last year, the business posted $0.38 earnings per share. ONE Gas’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts anticipate that ONE Gas, Inc. will post 4.07 EPS for the current fiscal year.
ONE Gas Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.10%. ONE Gas’s payout ratio is 62.31%.
About ONE Gas
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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