ONE Gas, Inc. (NYSE:OGS) Receives Average Rating of “Reduce” from Brokerages

Shares of ONE Gas, Inc. (NYSE:OGS) have been assigned an average recommendation of “Reduce” from the seven research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $64.69.

A number of equities analysts recently weighed in on the company. UBS Group initiated coverage on ONE Gas in a report on Friday, April 12th. They issued a “sell” rating and a $61.00 price target for the company. Mizuho increased their target price on ONE Gas from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. StockNews.com raised ONE Gas from a “sell” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley reduced their target price on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, June 24th.

ONE Gas Stock Performance

NYSE OGS opened at $65.65 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 3.36 and a beta of 0.66. ONE Gas has a twelve month low of $55.50 and a twelve month high of $82.06. The company has a current ratio of 0.47, a quick ratio of 0.39 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $62.27 and a 200 day moving average of $62.18.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The business had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a return on equity of 8.37% and a net margin of 10.86%. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. Sell-side analysts anticipate that ONE Gas will post 3.85 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were issued a $0.66 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.64 annualized dividend and a dividend yield of 4.02%. ONE Gas’s dividend payout ratio is presently 65.19%.

Institutional Investors Weigh In On ONE Gas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of ONE Gas by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,402,167 shares of the utilities provider’s stock valued at $437,140,000 after purchasing an additional 27,831 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of ONE Gas by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,555,206 shares of the utilities provider’s stock valued at $99,098,000 after purchasing an additional 52,740 shares during the last quarter. Victory Capital Management Inc. grew its position in ONE Gas by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,548,689 shares of the utilities provider’s stock worth $98,682,000 after acquiring an additional 97,346 shares during the period. First Trust Advisors LP grew its position in ONE Gas by 15.3% in the fourth quarter. First Trust Advisors LP now owns 1,108,868 shares of the utilities provider’s stock worth $70,657,000 after acquiring an additional 147,471 shares during the period. Finally, Energy Income Partners LLC grew its position in ONE Gas by 52.9% in the first quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock worth $68,317,000 after acquiring an additional 366,363 shares during the period. Institutional investors and hedge funds 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.