Connor Clark & Lunn Investment Management Ltd. Invests $1.63 Million in ONE Gas, Inc. (NYSE:OGS)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in ONE Gas, Inc. (NYSE:OGS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,589 shares of the utilities provider’s stock, valued at approximately $1,634,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of ONE Gas by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after buying an additional 645,566 shares during the last quarter. Verition Fund Management LLC increased its stake in ONE Gas by 320.2% in the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock valued at $29,980,000 after acquiring an additional 306,974 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in ONE Gas by 32.2% in the third quarter. Rockefeller Capital Management L.P. now owns 249,920 shares of the utilities provider’s stock valued at $18,599,000 after acquiring an additional 60,922 shares during the last quarter. Barclays PLC raised its position in ONE Gas by 105.6% during the third quarter. Barclays PLC now owns 105,607 shares of the utilities provider’s stock valued at $7,859,000 after purchasing an additional 54,237 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in ONE Gas by 234.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 60,976 shares of the utilities provider’s stock worth $4,539,000 after purchasing an additional 42,724 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Price Performance

OGS stock opened at $74.57 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $72.07 and its two-hundred day moving average price is $72.34. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.64 and a beta of 0.66. ONE Gas, Inc. has a 12-month low of $58.31 and a 12-month high of $78.89.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. The business had revenue of $630.70 million during the quarter, compared to analyst estimates of $973.58 million. As a group, equities analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.59%. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, February 21st. ONE Gas’s dividend payout ratio (DPR) is currently 68.54%.

Analysts Set New Price Targets

OGS has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded ONE Gas to a “hold” rating in a research report on Monday. Bank of America started coverage on shares of ONE Gas in a research note on Friday, December 13th. They issued a “buy” rating and a $77.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus raised their price objective on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, ONE Gas currently has a consensus rating of “Hold” and an average price target of $72.31.

ONE Gas 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.