Raymond James Financial Services Advisors Inc. reduced its stake in ONE Gas, Inc. (NYSE:OGS – Get Rating) by 7.6% during the third quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in ONE Gas in the first quarter valued at about $33,454,000. State Street Corp grew its holdings 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 valued at $177,536,000 after purchasing an additional 258,905 shares during the period. abrdn plc purchased a new stake in ONE Gas in the second quarter worth $17,585,000. FMR LLC raised its stake in shares of ONE Gas by 59.8% in the second quarter. FMR LLC now owns 456,989 shares of the utilities provider’s stock valued at $37,103,000 after buying an additional 170,979 shares during the period. Finally, Millennium Management LLC lifted its position in shares of ONE Gas by 36.0% during the 2nd quarter. Millennium Management LLC now owns 466,709 shares of the utilities provider’s stock valued at $37,892,000 after buying an additional 123,455 shares during the last quarter. Institutional investors own 83.34% of the company’s stock.
Insider Buying and Selling at ONE Gas
In other news, Director Michael G. Hutchinson sold 1,000 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $76.95, for a total value of $76,950.00. Following the transaction, the director now owns 13,239 shares of the company’s stock, valued at approximately $1,018,741.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.38% of the stock is currently owned by company insiders.
ONE Gas Stock Down 0.6 %
ONE Gas (NYSE:OGS – Get Rating) last posted its earnings results 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 return on equity of 8.88% and a net margin of 9.14%. The business had revenue of $359.36 million during the quarter, compared to analysts’ expectations of $280.05 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Equities research analysts expect that ONE Gas, Inc. will post 4.07 earnings per share for the current fiscal year.
ONE Gas Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, November 14th. ONE Gas’s dividend payout ratio is currently 62.31%.
Analyst Upgrades and Downgrades
OGS has been the subject of several recent research reports. StockNews.com initiated coverage on ONE Gas in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Stifel Nicolaus cut shares of ONE Gas from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Wednesday, January 11th. Mizuho reduced their price objective on shares of ONE Gas from $88.00 to $80.00 in a research note on Friday, December 2nd. Morgan Stanley dropped their target price on ONE Gas from $76.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 2nd. Finally, Guggenheim cut ONE Gas from a “neutral” rating to a “sell” rating and set a $64.00 price target for the company. in a research report on Thursday, December 1st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.83.
ONE Gas 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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