Geode Capital Management LLC Has $100.84 Million Position in ONE Gas, Inc. (NYSE:OGS)

Geode Capital Management LLC lifted its position in ONE Gas, Inc. (NYSE:OGS) by 1.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,354,710 shares of the utilities provider’s stock after buying an additional 18,477 shares during the quarter. Geode Capital Management LLC’s holdings in ONE Gas were worth $100,836,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. M&T Bank Corp increased its position in ONE Gas by 9.8% during the third quarter. M&T Bank Corp now owns 6,596 shares of the utilities provider’s stock worth $491,000 after buying an additional 591 shares during the last quarter. Barclays PLC boosted its stake in shares of ONE Gas by 105.6% during the 3rd quarter. Barclays PLC now owns 105,607 shares of the utilities provider’s stock worth $7,859,000 after acquiring an additional 54,237 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of ONE Gas by 42.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 210 shares during the last quarter. Dean Investment Associates LLC raised its stake in shares of ONE Gas by 16.6% in the 3rd quarter. Dean Investment Associates LLC now owns 79,703 shares of the utilities provider’s stock valued at $5,931,000 after acquiring an additional 11,368 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in ONE Gas by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after purchasing an additional 645,566 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Stock Performance

NYSE:OGS opened at $66.96 on Thursday. The firm’s 50-day moving average is $73.72 and its 200-day moving average is $69.60. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 17.44 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.37 and a current ratio of 0.50. ONE Gas, Inc. has a 52-week low of $57.74 and a 52-week high of $78.89.

ONE Gas (NYSE:OGS) last released its 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). The firm 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 firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts anticipate that ONE Gas, Inc. will post 3.88 earnings per share for the current year.

ONE Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.66 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.94%. ONE Gas’s payout ratio is 68.75%.

Analysts Set New Price Targets

Several equities analysts have commented on OGS shares. 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. LADENBURG THALM/SH SH downgraded shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a report on Friday, December 6th. Bank of America started coverage on shares of ONE Gas in a report on Friday, December 13th. They set a “buy” rating and a $77.00 price target for the company. Jefferies Financial Group began coverage on ONE Gas in a research report on Monday, December 9th. They issued a “hold” rating and a $79.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average price target of $72.69.

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.