ONE Gas (NYSE:OGS) Coverage Initiated at Bank of America

Stock analysts at Bank of America began coverage on shares of ONE Gas (NYSE:OGS) in a research report issued on Friday. The brokerage set a “buy” rating and a $77.00 price target on the utilities provider’s stock. Bank of America‘s price target would suggest a potential upside of 9.41% from the stock’s previous close.

OGS has been the subject of a number of other reports. LADENBURG THALM/SH SH cut ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price objective for the company. in a research note on Friday, December 6th. Jefferies Financial Group began coverage on shares of ONE Gas in a research note on Monday, December 9th. They set a “hold” rating and a $79.00 price target on the stock. Morgan Stanley raised their price objective on shares of ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut 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 note on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price target on shares of ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, ONE Gas currently has an average rating of “Hold” and a consensus price target of $72.69.

ONE Gas Trading Up 0.2 %

NYSE OGS opened at $70.38 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37. The stock has a market capitalization of $3.99 billion, a P/E ratio of 18.33 and a beta of 0.70. The firm’s 50-day moving average is $73.86 and its two-hundred day moving average is $69.40. ONE Gas has a 12 month low of $57.74 and a 12 month high of $78.89.

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

Hedge Funds Weigh In On ONE Gas

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in ONE Gas by 22.9% in the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock valued at $258,283,000 after acquiring an additional 645,566 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of ONE Gas by 320.2% in the 3rd quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock valued at $29,980,000 after purchasing an additional 306,974 shares during the last quarter. American Century Companies Inc. boosted its position in shares of ONE Gas by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock valued at $293,590,000 after purchasing an additional 272,923 shares during the period. International Assets Investment Management LLC grew its stake in ONE Gas by 9,036.9% during the 3rd quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock worth $15,061,000 after buying an additional 200,168 shares during the last quarter. Finally, Earnest Partners LLC acquired a new position in ONE Gas during the second quarter worth approximately $12,594,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

ONE Gas Company Profile

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.