Nuveen LLC Invests $29.70 Million in ONE Gas, Inc. $OGS

Key Points

• Nuveen LLC acquired 392,872 shares of ONE Gas, Inc. worth approximately $29.7 million, representing about 0.66% of the company.
• ONE Gas recently announced a quarterly dividend of $0.67 per share, with a yield of 3.5%, scheduled for payment on September 3rd.
• Analysts have mixed views on ONE Gas, with a consensus rating of "Hold" and a target price of $77.64, as analysts note changes in ratings and price objectives.

Nuveen LLC acquired a new stake in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 392,872 shares of the utilities provider's stock, valued at approximately $29,697,000. Nuveen LLC owned approximately 0.66% of ONE Gas at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OGS. Deutsche Bank AG grew its stake in shares of ONE Gas by 60.7% in the 4th quarter. Deutsche Bank AG now owns 821,860 shares of the utilities provider's stock valued at $56,914,000 after buying an additional 310,460 shares during the period. Allianz Asset Management GmbH lifted its holdings in ONE Gas by 512.6% during the 1st quarter. Allianz Asset Management GmbH now owns 188,075 shares of the utilities provider's stock worth $14,217,000 after buying an additional 157,375 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of ONE Gas by 23.2% in the 1st quarter. Bank of New York Mellon Corp now owns 787,029 shares of the utilities provider's stock valued at $59,492,000 after purchasing an additional 148,003 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ONE Gas by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 6,417,990 shares of the utilities provider's stock valued at $485,136,000 after purchasing an additional 147,186 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of ONE Gas in the 1st quarter valued at approximately $8,278,000. Hedge funds and other institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

OGS has been the topic of several research reports. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research report on Friday, May 9th. Guggenheim raised their price objective on shares of ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley reiterated an "underperform" rating on shares of ONE Gas in a research note on Wednesday, June 18th. Wells Fargo & Company lifted their target price on shares of ONE Gas from $82.00 to $89.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $77.64.

ONE Gas Stock Up 0.3%

OGS traded up $0.2340 during trading on Wednesday, hitting $75.0440. The company had a trading volume of 489,037 shares, compared to its average volume of 529,977. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.52 and a quick ratio of 0.42. ONE Gas, Inc. has a 1-year low of $66.38 and a 1-year high of $82.25. The business has a 50-day moving average of $73.33 and a 200-day moving average of $74.14. The company has a market cap of $4.50 billion, a PE ratio of 17.91, a P/E/G ratio of 3.06 and a beta of 0.82.

ONE Gas (NYSE:OGS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $423.70 million during the quarter, compared to analyst estimates of $432.69 million. ONE Gas had a net margin of 10.63% and a return on equity of 8.07%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. ONE Gas has set its FY 2025 guidance at 4.320-4.420 EPS. As a group, analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 18th. ONE Gas's dividend payout ratio (DPR) is currently 63.96%.

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.