ONE Gas (NYSE:OGS) Price Target Cut to $62.00 by Analysts at Morgan Stanley

ONE Gas (NYSE:OGS) had its target price cut by stock analysts at Morgan Stanley from $66.00 to $62.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 3.87% from the stock’s current price.

Several other equities analysts also recently commented on the company. TheStreet downgraded ONE Gas from a “b-” rating to a “c+” rating in a research report on Monday, October 16th. Guggenheim reduced their price target on shares of ONE Gas from $73.00 to $64.00 in a research note on Monday, October 9th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Wells Fargo & Company reduced their target price on shares of ONE Gas from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, October 20th. Finally, Stifel Nicolaus boosted their price target on ONE Gas from $81.00 to $82.00 and gave the company a “hold” rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average price target of $70.67.

ONE Gas Trading Down 1.2 %

Shares of NYSE OGS traded down $0.72 during trading hours on Tuesday, hitting $59.69. 22,528 shares of the company traded hands, compared to its average volume of 483,106. The company’s 50 day moving average price is $66.64 and its 200 day moving average price is $73.93. ONE Gas has a 12 month low of $59.01 and a 12 month high of $89.01. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. The company has a current ratio of 0.36, a quick ratio of 0.23 and a debt-to-equity ratio of 0.70.

ONE Gas (NYSE:OGS) last released its earnings results on Monday, October 30th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $335.82 million during the quarter, compared to analyst estimates of $459.11 million. ONE Gas had a net margin of 8.80% and a return on equity of 8.64%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. On average, equities research analysts anticipate that ONE Gas will post 4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONE Gas

Hedge funds and other institutional investors have recently modified their holdings of the business. Disciplined Investments LLC boosted its position in ONE Gas by 3,937.5% during the 1st quarter. Disciplined Investments LLC now owns 323 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 315 shares in the last quarter. Lazard Asset Management LLC bought a new stake in ONE Gas during the fourth quarter valued at about $32,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in ONE Gas during the second quarter valued at about $40,000. Venturi Wealth Management LLC purchased a new position in ONE Gas in the first quarter valued at about $46,000. Finally, Rockefeller Capital Management L.P. raised its holdings in ONE Gas by 276.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 682 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 501 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Company Profile

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.