Zacks Investment Research upgraded shares of ONE Gas, Inc. (NYSE:OGS) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $85.00 price target on the utilities provider’s stock.
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. “
Several other brokerages also recently weighed in on OGS. Morgan Stanley raised their target price on shares of ONE Gas from $68.00 to $72.00 and gave the company an underperform rating in a research note on Thursday, August 10th. UBS AG downgraded shares of ONE Gas from a neutral rating to a sell rating and raised their target price for the company from $71.00 to $72.00 in a research note on Monday, October 2nd. BidaskClub upgraded shares of ONE Gas from a hold rating to a buy rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC restated a sell rating and issued a $62.00 target price on shares of ONE Gas in a research note on Sunday, September 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. ONE Gas presently has an average rating of Hold and an average price target of $68.83.
Shares of ONE Gas (NYSE:OGS) traded down $0.85 during mid-day trading on Wednesday, reaching $75.90. 179,800 shares of the company traded hands, compared to its average volume of 165,273. The stock has a market capitalization of $3,967.60, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 0.11. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. ONE Gas has a 12 month low of $56.89 and a 12 month high of $78.26.
ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The company had revenue of $247.14 million for the quarter, compared to analyst estimates of $242.75 million. ONE Gas had a net margin of 10.42% and a return on equity of 8.22%. During the same period last year, the company posted $0.24 earnings per share. analysts anticipate that ONE Gas will post 3 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 10th. This represents a $1.68 annualized dividend and a yield of 2.21%. ONE Gas’s dividend payout ratio (DPR) is 56.19%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Independent Portfolio Consultants Inc. acquired a new stake in shares of ONE Gas during the second quarter worth $158,000. Heritage Trust Co lifted its stake in shares of ONE Gas by 41.4% during the second quarter. Heritage Trust Co now owns 2,323 shares of the utilities provider’s stock worth $162,000 after buying an additional 680 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ONE Gas by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,468 shares of the utilities provider’s stock worth $172,000 after buying an additional 139 shares during the period. D.A. Davidson & CO. lifted its stake in shares of ONE Gas by 1,953.3% during the second quarter. D.A. Davidson & CO. now owns 2,505 shares of the utilities provider’s stock worth $174,000 after buying an additional 2,383 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ONE Gas during the second quarter worth $200,000. Institutional investors own 73.37% 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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