ONE Gas (NYSE:OGS) Now Covered by Bank of America

Bank of America started coverage on shares of ONE Gas (NYSE:OGS) in a research report released on Friday morning. The brokerage issued a buy rating and a $77.00 price target on the utilities provider’s stock.

Several other brokerages also recently weighed in on OGS. Stifel Nicolaus lifted their target price on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Morgan Stanley lifted their target price on shares of ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. LADENBURG THALM/SH SH cut shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price target for the company. in a report on Friday, December 6th. Jefferies Financial Group began coverage on ONE Gas in a report on Monday, December 9th. They issued a “hold” rating and a $79.00 price objective on the stock. Finally, StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.69.

ONE Gas Stock Performance

Shares of OGS stock opened at $70.38 on Friday. ONE Gas has a 12 month low of $57.74 and a 12 month high of $78.89. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85. The company has a market cap of $3.99 billion, a P/E ratio of 18.33 and a beta of 0.70. The firm has a fifty day moving average price of $73.86 and a 200 day moving average price of $69.33.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $340.40 million for the quarter, compared to analyst estimates of $287.48 million. ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. Sell-side analysts predict that ONE Gas will post 3.88 earnings per share for the current fiscal year.

ONE Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Tuesday, November 19th. ONE Gas’s dividend payout ratio is currently 68.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC boosted its position in shares of ONE Gas by 266.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares in the last quarter. Rothschild Investment LLC purchased a new stake in ONE Gas in the 2nd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in ONE Gas by 150.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after buying an additional 349 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 buying an additional 261 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in ONE Gas during the third quarter worth $45,000. Hedge funds and other institutional investors 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.