Mitsubishi UFJ Trust & Banking Corp purchased a new position in ONE Gas, Inc. (NYSE:OGS – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 518 shares of the utilities provider’s stock, valued at approximately $40,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Texas Permanent School Fund Corp grew its position in ONE Gas by 0.4% during the second quarter. Texas Permanent School Fund Corp now owns 48,770 shares of the utilities provider’s stock valued at $3,746,000 after purchasing an additional 216 shares in the last quarter. Dean Investment Associates LLC purchased a new position in ONE Gas during the second quarter valued at approximately $3,086,000. Mirabella Financial Services LLP purchased a new position in ONE Gas during the second quarter valued at approximately $945,000. Envestnet Asset Management Inc. grew its position in ONE Gas by 97.4% during the second quarter. Envestnet Asset Management Inc. now owns 16,543 shares of the utilities provider’s stock valued at $1,271,000 after purchasing an additional 8,163 shares in the last quarter. Finally, American International Group Inc. grew its position in ONE Gas by 0.6% during the second quarter. American International Group Inc. now owns 109,642 shares of the utilities provider’s stock valued at $8,422,000 after purchasing an additional 691 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on OGS shares. Morgan Stanley decreased their target price on shares of ONE Gas from $71.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. TheStreet downgraded shares of ONE Gas from a “b-” rating to a “c+” rating in a research report on Monday, October 16th. Wells Fargo & Company decreased their target price on shares of ONE Gas from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th. Finally, Guggenheim decreased their target price on shares of ONE Gas from $73.00 to $64.00 in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.33.
ONE Gas Price Performance
NYSE OGS opened at $61.68 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.36 and a debt-to-equity ratio of 0.70. ONE Gas, Inc. has a 12-month low of $59.01 and a 12-month high of $89.01. The company has a market capitalization of $3.42 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. The firm’s 50 day moving average is $66.93 and its 200-day moving average is $74.07.
ONE Gas (NYSE:OGS – Get Free Report) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. ONE Gas had a net margin of 8.80% and a return on equity of 8.64%. The company had revenue of $335.82 million for the quarter, compared to the consensus estimate of $459.11 million. During the same period last year, the company earned $0.44 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that ONE Gas, Inc. will post 4.12 earnings per share for the current fiscal year.
ONE Gas Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.65 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.22%. ONE Gas’s payout ratio is presently 63.41%.
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.
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