Principal Financial Group Inc. lessened its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 17.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 346,361 shares of the utilities provider’s stock after selling 75,260 shares during the period. Principal Financial Group Inc.’s holdings in ONE Gas were worth $25,673,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC boosted its stake in shares of ONE Gas by 1,005.4% during the 1st quarter. Berman Capital Advisors LLC now owns 409 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 372 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of ONE Gas by 92.9% during the 1st quarter. Captrust Financial Advisors now owns 957 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 461 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of ONE Gas during the 1st quarter worth about $136,000. Meeder Asset Management Inc. boosted its stake in shares of ONE Gas by 19.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,922 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 309 shares in the last quarter. Finally, Harbor Financial Services LLC bought a new stake in shares of ONE Gas during the 1st quarter worth about $220,000. Institutional investors own 80.25% of the company’s stock.
In other ONE Gas news, Director Eduardo A. Rodriguez sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $71.55, for a total value of $57,240.00. Following the completion of the transaction, the director now owns 9,746 shares of the company’s stock, valued at approximately $697,326.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.94% of the company’s stock.
ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Sunday, August 1st. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $315.65 million during the quarter, compared to analysts’ expectations of $279.14 million. ONE Gas had a return on equity of 9.07% and a net margin of 12.28%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts expect that ONE Gas, Inc. will post 3.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were issued a $0.58 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.32 annualized dividend and a yield of 3.59%. ONE Gas’s dividend payout ratio (DPR) is 63.04%.
OGS has been the subject of several research analyst reports. Mizuho boosted their price objective on ONE Gas from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, May 27th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on ONE Gas from $71.00 to $67.00 and set an “underweight” rating for the company in a research report on Friday, September 17th. Finally, Zacks Investment Research raised ONE Gas from a “sell” rating to a “hold” rating and set a $77.00 price objective for the company in a research report on Thursday, June 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.50.
ONE Gas Company Profile
ONE Gas, Inc engages in the provision of natural gas distribution services. It also offers natural gas to residential, commercial, industrial, and transportation customers. The company was founded in 1906 and is headquartered in Tulsa, OK.
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