American International Group Inc. Reduces Stock Holdings in ONE Gas, Inc. (NYSE:OGS)

American International Group Inc. lowered its position in ONE Gas, Inc. (NYSE:OGSFree Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,909 shares of the utilities provider’s stock after selling 3,316 shares during the quarter. American International Group Inc.’s holdings in ONE Gas were worth $6,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OGS. Norges Bank purchased a new stake in shares of ONE Gas in the fourth quarter valued at about $30,395,000. First Trust Advisors LP lifted its position in ONE Gas by 15.3% in the fourth quarter. First Trust Advisors LP now owns 1,108,868 shares of the utilities provider’s stock valued at $70,657,000 after buying an additional 147,471 shares during the last quarter. Clearbridge Investments LLC acquired a new position in ONE Gas in the third quarter valued at about $9,796,000. International Assets Investment Management LLC acquired a new position in ONE Gas in the fourth quarter valued at about $8,825,000. Finally, Victory Capital Management Inc. lifted its position in ONE Gas by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,548,689 shares of the utilities provider’s stock valued at $98,682,000 after buying an additional 97,346 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group assumed coverage on shares of ONE Gas in a research report on Friday, April 12th. They issued a “sell” rating and a $61.00 target price on the stock. Wells Fargo & Company upped their target price on shares of ONE Gas from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. LADENBURG THALM/SH SH raised shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 target price on the stock in a research report on Tuesday, March 5th. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Morgan Stanley increased their price target on shares of ONE Gas from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.06.

Read Our Latest Stock Analysis on ONE Gas

ONE Gas Stock Up 0.6 %

Shares of NYSE:OGS opened at $60.82 on Tuesday. The firm’s 50 day moving average price is $63.05 and its 200 day moving average price is $62.13. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 3.14 and a beta of 0.65. ONE Gas, Inc. has a fifty-two week low of $55.50 and a fifty-two week high of $82.88. The company has a quick ratio of 0.39, a current ratio of 0.47 and a debt-to-equity ratio of 0.76.

ONE Gas (NYSE:OGSGet Free Report) last issued its earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). The firm had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a net margin of 10.86% and a return on equity of 8.37%. The firm’s revenue was down 26.5% compared to the same quarter last year. During the same period last year, the business earned $1.84 EPS. As a group, equities research analysts predict that ONE Gas, Inc. will post 3.85 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were paid a $0.66 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.64 annualized dividend and a yield of 4.34%. ONE Gas’s dividend payout ratio is currently 65.19%.

ONE Gas Company Profile

(Free Report)

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.

See Also

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

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