ONE Gas (NYSE:OGS) Reaches New 1-Year High – Here’s What Happened

ONE Gas, Inc. (NYSE:OGS) reached a new 52-week high on Wednesday . The stock traded as high as $75.23 and last traded at $74.14, with a volume of 23928 shares trading hands. The stock had previously closed at $70.53.

Analysts Set New Price Targets

Several research firms have recently weighed in on OGS. Morgan Stanley increased their price target on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.10.

ONE Gas Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.21 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 3.62 and a beta of 0.67. The stock has a 50 day simple moving average of $72.12 and a 200-day simple moving average of $67.24.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The business had revenue of $340.40 million during the quarter, compared to analysts’ expectations of $287.48 million. During the same quarter in the previous year, the company posted $0.45 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that ONE Gas, Inc. will post 3.86 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a yield of 3.55%. ONE Gas’s payout ratio is presently 68.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC boosted its holdings in shares of ONE Gas by 266.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 266 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of ONE Gas during the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 349 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ONE Gas by 75.2% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 261 shares during the last quarter. Finally, Coastline Trust Co bought a new position in shares of ONE Gas during the 3rd quarter valued at about $60,000. 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.