Sound Income Strategies LLC Purchases Shares of 739 ONE Gas, Inc. (NYSE:OGS)

Sound Income Strategies LLC purchased a new stake in shares of ONE Gas, Inc. (NYSE:OGS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 739 shares of the utilities provider’s stock, valued at approximately $51,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP increased its position in ONE Gas by 22.9% in the 3rd 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 period. Geode Capital Management LLC increased its holdings in shares of ONE Gas by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,354,710 shares of the utilities provider’s stock valued at $100,836,000 after purchasing an additional 18,477 shares during the period. Boston Trust Walden Corp raised its stake in shares of ONE Gas by 10.4% during the third quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock valued at $78,082,000 after purchasing an additional 98,489 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ONE Gas by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 897,568 shares of the utilities provider’s stock worth $57,308,000 after purchasing an additional 61,192 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in ONE Gas by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 758,378 shares of the utilities provider’s stock worth $56,438,000 after purchasing an additional 18,889 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Stock Performance

OGS opened at $68.75 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.89 billion, a PE ratio of 17.90, a P/E/G ratio of 5.70 and a beta of 0.71. The business has a fifty day simple moving average of $71.79 and a 200-day simple moving average of $71.09. ONE Gas, Inc. has a fifty-two week low of $57.74 and a fifty-two week high of $78.89.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. As a group, equities analysts predict that ONE Gas, Inc. will post 3.89 EPS for the current fiscal year.

ONE Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.66. ONE Gas’s payout ratio is currently 69.79%.

Analyst Ratings Changes

A number of research firms have commented on OGS. Bank of America initiated coverage on shares of ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 price target on the stock. LADENBURG THALM/SH SH cut ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a report on Friday, December 6th. Jefferies Financial Group initiated coverage on ONE Gas in a research note on Monday, December 9th. They set a “hold” rating and a $79.00 price target for the company. Stifel Nicolaus boosted their price objective on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.69.

ONE Gas 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.