Wells Fargo & Company Has Lowered Expectations for ONE Gas (NYSE:OGS) Stock Price

ONE Gas (NYSE:OGS) had its price objective decreased by stock analysts at Wells Fargo & Company from $82.00 to $81.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.74% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.10.

ONE Gas Trading Up 1.4 %

Shares of OGS traded up $1.00 during trading on Wednesday, reaching $73.81. 24,014 shares of the company traded hands, compared to its average volume of 407,190. ONE Gas has a twelve month low of $55.50 and a twelve month high of $75.37. The stock has a market cap of $4.18 billion, a PE ratio of 18.96, 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 $72.33 and a 200-day simple moving average of $67.33. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76.

ONE Gas (NYSE:OGS) last announced 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). ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company had revenue of $340.40 million for the quarter, compared to analyst estimates of $287.48 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. ONE Gas’s revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that ONE Gas will post 3.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OGS. Pathstone Holdings LLC increased its position in ONE Gas by 113.5% during the 3rd quarter. Pathstone Holdings LLC now owns 22,681 shares of the utilities provider’s stock worth $1,688,000 after purchasing an additional 12,060 shares in the last quarter. Coastline Trust Co acquired a new stake in ONE Gas during the 3rd quarter worth approximately $60,000. Connable Office Inc. acquired a new stake in ONE Gas during the 3rd quarter worth approximately $474,000. Cable Hill Partners LLC acquired a new stake in ONE Gas during the 3rd quarter worth approximately $261,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in ONE Gas during the 3rd quarter worth approximately $1,595,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Company 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.