Zacks Investment Research cut shares of ONE Gas, Inc. (NYSE:OGS) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “ONE Gas, Inc. is a natural gas local distribution company. The company operates primarily in Oklahoma, Kansas and Texas through Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service. ONE Gas, Inc. is based in Tulsa, United States. “
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of ONE Gas from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. Jefferies Group LLC reiterated a sell rating and issued a $62.00 price target on shares of ONE Gas in a research report on Sunday, September 10th. Finally, Morgan Stanley upped their price target on shares of ONE Gas from $68.00 to $72.00 and gave the stock an underperform rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $66.17.
Shares of ONE Gas (OGS) opened at 75.31 on Wednesday. ONE Gas has a 12 month low of $55.98 and a 12 month high of $76.06. The company has a market cap of $3.94 billion, a PE ratio of 26.24 and a beta of 0.11. The firm’s 50-day moving average is $74.52 and its 200-day moving average is $70.42.
ONE Gas (NYSE:OGS) last released its quarterly earnings data on Monday, July 31st. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $279.69 million during the quarter, compared to analysts’ expectations of $257.87 million. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. ONE Gas’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities research analysts predict that ONE Gas will post $2.98 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, August 10th. ONE Gas’s dividend payout ratio (DPR) is 58.54%.
Large investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. bought a new stake in shares of ONE Gas in the 1st quarter valued at about $202,000. Suntrust Banks Inc. boosted its holdings in shares of ONE Gas by 1.7% in the 1st quarter. Suntrust Banks Inc. now owns 6,160 shares of the utilities provider’s stock valued at $415,000 after buying an additional 105 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of ONE Gas by 19.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 33,367 shares of the utilities provider’s stock valued at $2,256,000 after buying an additional 5,340 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of ONE Gas by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 5,072,922 shares of the utilities provider’s stock valued at $342,929,000 after buying an additional 103,662 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its holdings in shares of ONE Gas by 0.9% in the 1st quarter. State Treasurer State of Michigan now owns 21,257 shares of the utilities provider’s stock valued at $1,437,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.
About ONE Gas
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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