9,099,077 Shares in ONE Gas, Inc. $OGS Bought by BlackRock Inc.

Key Points

• BlackRock acquired 9.1 million ONE Gas shares in the second quarter, valued at approximately $701.3 million, giving it a 14.5% stake. Institutional investors collectively own 88.71% of OGS.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $89.23, compared with the stock’s recent opening price of $79.11.
• ONE Gas exceeded quarterly earnings expectations, reporting EPS of $0.82 versus the $0.63 consensus estimate, while revenue declined 2.8% year over year. The company also declared a quarterly dividend of $0.68 per share, representing a 3.4% annualized yield.

BlackRock Inc. acquired a new stake in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,099,077 shares of the utilities provider's stock, valued at approximately $701,266,000. BlackRock Inc. owned 14.50% of ONE Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OGS. Alliancebernstein L.P. increased its holdings in shares of ONE Gas by 1,393.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,597,487 shares of the utilities provider's stock worth $114,795,000 after buying an additional 1,490,492 shares during the last quarter. Norges Bank bought a new stake in ONE Gas during the fourth quarter worth about $70,767,000. Bank of New York Mellon Corp purchased a new position in shares of ONE Gas in the 2nd quarter worth about $56,308,000. Nuveen LLC boosted its stake in ONE Gas by 101.1% in the fourth quarter. Nuveen LLC now owns 776,495 shares of the utilities provider's stock worth $59,984,000 after buying an additional 390,344 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in ONE Gas by 37.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,398,440 shares of the utilities provider's stock worth $108,029,000 after buying an additional 380,668 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of ONE Gas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. LADENBURG THALM/SH SH raised shares of ONE Gas from a "neutral" rating to a "buy" rating and set a $85.50 target price on the stock in a report on Thursday, August 13th. BTIG Research reaffirmed a "buy" rating and set a $96.00 price objective on shares of ONE Gas in a research note on Thursday, July 23rd. Morgan Stanley lowered their target price on ONE Gas from $86.00 to $82.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Wells Fargo & Company upgraded ONE Gas from a "strong sell" rating to an "equal weight" rating and set a $85.00 target price for the company in a report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.23.

ONE Gas Stock Down 2.8%

NYSE OGS opened at $79.11 on Friday. ONE Gas, Inc. has a 1 year low of $74.06 and a 1 year high of $90.78. The stock has a market capitalization of $4.97 billion, a PE ratio of 17.05, a PEG ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.48 and a quick ratio of 0.37. The business's 50-day moving average is $78.84 and its 200 day moving average is $82.68.

ONE Gas (NYSE:OGS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.63 by $0.19. ONE Gas had a net margin of 12.47% and a return on equity of 8.81%. The business had revenue of $411.64 million during the quarter, compared to analyst estimates of $410.29 million. During the same period in the prior year, the business earned $0.53 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. ONE Gas has set its FY 2026 guidance at 4.830-4.950 EPS. Sell-side analysts forecast that ONE Gas, Inc. will post 4.91 earnings per share for the current year.

ONE Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, August 17th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.4%. ONE Gas's dividend payout ratio is presently 58.62%.

ONE Gas Company Profile

ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company's service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.

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