ONE Gas (NYSE:OGS) Price Target Raised to $69.00

ONE Gas (NYSE:OGS) had its target price hoisted by Morgan Stanley from $63.00 to $69.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

OGS has been the topic of several other research reports. Wells Fargo & Company raised shares of ONE Gas from an equal weight rating to an overweight rating and raised their price target for the stock from $71.00 to $80.00 in a research note on Wednesday, September 11th. Mizuho raised their target price on shares of ONE Gas from $64.00 to $65.00 and gave the stock a neutral rating in a research report on Wednesday, June 5th. Finally, StockNews.com lowered ONE Gas from a hold rating to a sell rating in a report on Saturday, July 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, ONE Gas presently has an average rating of Hold and a consensus price target of $66.21.

ONE Gas Stock Performance

ONE Gas stock opened at $74.20 on Wednesday. ONE Gas has a 1-year low of $55.50 and a 1-year high of $74.99. The company’s 50-day moving average is $69.66 and its 200 day moving average is $65.34. The firm has a market capitalization of $4.20 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $354.14 million for the quarter, compared to the consensus estimate of $362.06 million. ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. ONE Gas’s revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Research analysts forecast that ONE Gas will post 3.84 EPS for the current year.

ONE Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, August 14th. ONE Gas’s dividend payout ratio (DPR) is 65.19%.

Institutional Trading of ONE Gas

Several hedge funds and other institutional investors have recently bought and sold shares of OGS. Hexagon Capital Partners LLC lifted its stake in shares of ONE Gas by 21.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 174 shares during the last quarter. Tidal Investments LLC raised its holdings in ONE Gas by 6.1% in the first quarter. Tidal Investments LLC now owns 3,580 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 206 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in ONE Gas by 0.9% in the second quarter. Harbor Capital Advisors Inc. now owns 25,019 shares of the utilities provider’s stock worth $1,597,000 after purchasing an additional 230 shares in the last quarter. GW Henssler & Associates Ltd. lifted its position in shares of ONE Gas by 7.4% during the first quarter. GW Henssler & Associates Ltd. now owns 3,442 shares of the utilities provider’s stock valued at $222,000 after buying an additional 237 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of ONE Gas by 1.8% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 15,213 shares of the utilities provider’s stock valued at $971,000 after buying an additional 270 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.