Zacks Investment Research Lowers ONE Gas, Inc. (OGS) to Hold

ONE Gas, Inc. (NYSE:OGS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, July 12th.

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. “

A number of other equities research analysts have also recently commented on the company. BidaskClub cut ONE Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reaffirmed a “sell” rating and set a $59.00 price objective on shares of ONE Gas in a research note on Friday, March 31st. Finally, Morgan Stanley lifted their price objective on ONE Gas from $68.00 to $70.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $65.33.

Shares of ONE Gas (OGS) traded up 0.86% during mid-day trading on Wednesday, hitting $74.63. The stock had a trading volume of 115,332 shares. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 26.00 and a beta of 0.12. ONE Gas has a 12-month low of $55.98 and a 12-month high of $74.68. The firm’s 50-day moving average price is $71.12 and its 200 day moving average price is $68.23.

ONE Gas (NYSE:OGS) last released its earnings results on Monday, July 31st. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The firm had revenue of $279.69 million during the quarter, compared to analyst estimates of $257.87 million. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. Equities analysts forecast that ONE Gas will post $2.98 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was reported by BBNS and is the property of of BBNS. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/zacks-investment-research-downgrades-one-gas-inc-ogs-to-hold-updated-updated-updated/1197369.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of OGS. Russell Investments Group Ltd. acquired a new position in ONE Gas during the fourth quarter valued at $2,983,000. Credit Agricole S A acquired a new position in ONE Gas during the fourth quarter valued at $800,000. Renaissance Technologies LLC raised its position in ONE Gas by 273.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,700 shares of the utilities provider’s stock valued at $3,179,000 after buying an additional 36,400 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in ONE Gas by 4.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,671 shares of the utilities provider’s stock valued at $234,000 after buying an additional 164 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in ONE Gas by 10.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,990 shares of the utilities provider’s stock valued at $575,000 after buying an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 72.58% 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.

Get a free copy of the Zacks research report on ONE Gas (OGS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ONE Gas (NYSE:OGS)

Receive News & Ratings for ONE Gas Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONE Gas Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer
Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury


Leave a Reply

 
© 2006-2017 BBNS.