Connor Clark & Lunn Investment Management Ltd. Takes $1.63 Million Position in ONE Gas, Inc. (NYSE:OGS)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in ONE Gas, Inc. (NYSE:OGS) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 23,589 shares of the utilities provider’s stock, valued at approximately $1,634,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGS. Wealthfront Advisers LLC purchased a new stake in shares of ONE Gas in the 4th quarter worth about $1,601,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ONE Gas by 14.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,817 shares of the utilities provider’s stock valued at $1,095,000 after purchasing an additional 2,003 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of ONE Gas during the fourth quarter valued at approximately $662,000. Inceptionr LLC purchased a new stake in shares of ONE Gas in the 4th quarter worth approximately $270,000. Finally, Raymond James Financial Inc. bought a new position in ONE Gas during the 4th quarter valued at approximately $2,346,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGS has been the subject of several analyst reports. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a “hold” rating in a research note on Monday. Jefferies Financial Group reduced their price target on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America initiated coverage on ONE Gas in a research report on Friday, December 13th. They issued a “buy” rating and a $77.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONE Gas currently has an average rating of “Hold” and an average target price of $72.31.

ONE Gas Price Performance

NYSE OGS opened at $74.57 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37. ONE Gas, Inc. has a 1-year low of $58.31 and a 1-year high of $78.89. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.64 and a beta of 0.66. The business’s fifty day moving average price is $72.07 and its 200-day moving average price is $72.34.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $630.70 million for the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. On average, equities analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.67 dividend. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.68 dividend on an annualized basis and a yield of 3.59%. ONE Gas’s dividend payout ratio is presently 68.54%.

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.