Shares of ONE Gas, Inc. (NYSE:OGS – Free Report) traded down 2.4% during trading on Friday after Guggenheim lowered their price target on the stock from $77.00 to $73.00. The company traded as low as $72.84 and last traded at $74.15. 84,626 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 492,520 shares. The stock had previously closed at $76.01.
A number of other research analysts have also issued reports on the company. Morgan Stanley boosted their price objective on ONE Gas from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. StockNews.com initiated coverage on shares of ONE Gas in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Mizuho dropped their price objective on shares of ONE Gas from $84.00 to $83.00 in a report on Wednesday, May 3rd. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average target price of $77.83.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of OGS. Ontario Teachers Pension Plan Board increased its stake in ONE Gas by 18.4% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 67,129 shares of the utilities provider’s stock valued at $5,319,000 after buying an additional 10,455 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of ONE Gas by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 424,490 shares of the utilities provider’s stock valued at $33,632,000 after acquiring an additional 14,637 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ONE Gas by 40.7% during the first quarter. JPMorgan Chase & Co. now owns 530,263 shares of the utilities provider’s stock valued at $42,014,000 after acquiring an additional 153,505 shares during the period. Rockefeller Capital Management L.P. raised its holdings in ONE Gas by 528.7% during the first quarter. Rockefeller Capital Management L.P. now owns 4,288 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 3,606 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in ONE Gas by 0.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 908,416 shares of the utilities provider’s stock worth $71,974,000 after purchasing an additional 6,794 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.
ONE Gas Trading Down 1.5 %
The stock has a market capitalization of $4.15 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 3.73 and a beta of 0.65. The business has a 50 day simple moving average of $79.46 and a 200-day simple moving average of $79.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.51.
ONE Gas (NYSE:OGS – Free Report) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.01). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $688.68 million. ONE Gas had a net margin of 8.54% and a return on equity of 8.90%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. On average, analysts predict that ONE Gas, Inc. will post 4.13 EPS for the current year.
ONE Gas Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Wednesday, May 17th were issued a $0.65 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. ONE Gas’s payout ratio is currently 63.41%.
About ONE Gas
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.