Raymond James Financial Services Advisors Inc. Reduces Holdings in ONE Gas, Inc. (NYSE:OGS)

Raymond James Financial Services Advisors Inc. lowered its position in ONE Gas, Inc. (NYSE:OGS – Get Rating) by 7.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,765 shares of the utilities provider’s stock after selling 1,622 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in ONE Gas were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinebridge Investments L.P. raised 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 worth $25,000 after purchasing an additional 206 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of 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 acquiring an additional 159 shares during the last quarter. Venture Visionary Partners LLC purchased a new position in ONE Gas during the 2nd quarter valued at $34,000. Lazard Asset Management LLC purchased a new stake in shares of ONE Gas during the second quarter valued at $47,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of ONE Gas during the first quarter valued at $53,000. Hedge funds and other institutional investors own 83.34% of the company’s stock.

ONE Gas Price Performance

Shares of OGS stock opened at $76.78 on Friday. The stock’s 50-day moving average is $79.05 and its 200 day moving average is $78.87. ONE Gas, Inc. has a 1-year low of $68.86 and a 1-year high of $92.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.56. The company has a market cap of $4.16 billion, a P/E ratio of 19.29, a PEG ratio of 3.90 and a beta of 0.66.

ONE Gas (NYSE:OGS – Get Rating) last released its quarterly earnings results on Monday, October 31st. The utilities provider reported $0.44 EPS for the quarter, beating 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 in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Research analysts predict that ONE Gas, Inc. will post 4.07 earnings per share for the current fiscal year.

ONE Gas Announces Dividend

The firm also recently disclosed 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 3.23%. ONE Gas’s dividend payout ratio is presently 62.31%.

Insider Transactions at ONE Gas

In related news, Director Michael G. Hutchinson sold 1,000 shares of the company’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $76.95, for a total transaction of $76,950.00. Following the transaction, the director now directly owns 13,239 shares of the company’s stock, valued at approximately $1,018,741.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OGS shares. StockNews.com started coverage on shares of ONE Gas in a report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America cut ONE Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $79.00 in a research note on Friday, December 16th. Guggenheim lowered ONE Gas from a “neutral” rating to a “sell” rating and set a $64.00 target price for the company. in a research report on Thursday, December 1st. Stifel Nicolaus cut ONE Gas from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a report on Wednesday, January 11th. Finally, Mizuho decreased their price objective on ONE Gas from $88.00 to $80.00 in a report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.83.

ONE Gas Company Profile

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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.