ONE Gas (NYSE:OGS) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of ONE Gas (NYSE:OGS) from a hold rating to a sell rating in a report published on Wednesday.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their target price on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.10.

ONE Gas Stock Up 1.6 %

Shares of NYSE OGS opened at $75.40 on Wednesday. ONE Gas has a 1 year low of $55.50 and a 1 year high of $76.34. The firm has a 50-day simple moving average of $72.99 and a two-hundred day simple moving average of $67.75. The company has a market cap of $4.27 billion, a P/E ratio of 19.64, a PEG ratio of 3.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The business had revenue of $340.40 million for the quarter, compared to analysts’ expectations of $287.48 million. During the same quarter in the previous year, the firm earned $0.45 EPS. ONE Gas’s revenue was up 1.4% compared to the same quarter last year. Research analysts anticipate that ONE Gas will post 3.88 earnings per share for the current year.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.50%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s payout ratio is 68.75%.

Institutional Investors Weigh In On ONE Gas

Several large investors have recently modified their holdings of OGS. Transcendent Capital Group LLC raised its stake in ONE Gas by 266.0% in the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of ONE Gas in the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 349 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of ONE Gas by 75.2% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 261 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in ONE Gas by 42.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

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.