AQR Capital Management LLC Increases Stake in ONE Gas, Inc. $OGS

Key Points

• AQR Capital Management LLC increased its stake in ONE Gas, Inc. by 21.2% in the first quarter, holding 70,834 shares valued at $5.35 million.
• ONE Gas declared a quarterly dividend of $0.67 per share, representing an annualized dividend yield of 3.5%.
• The company's latest quarterly earnings report showed a 19.7% year-over-year revenue increase, reaching $423.7 million, with an EPS of $0.53 that met analysts' expectations.

AQR Capital Management LLC raised its stake in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 21.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 70,834 shares of the utilities provider's stock after acquiring an additional 12,392 shares during the period. AQR Capital Management LLC owned approximately 0.12% of ONE Gas worth $5,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OGS. Nuveen LLC bought a new position in shares of ONE Gas in the 1st quarter worth approximately $29,697,000. Aberdeen Group plc lifted its stake in shares of ONE Gas by 80.6% in the 1st quarter. Aberdeen Group plc now owns 468,027 shares of the utilities provider's stock worth $35,378,000 after purchasing an additional 208,944 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of ONE Gas by 512.6% in the 1st quarter. Allianz Asset Management GmbH now owns 188,075 shares of the utilities provider's stock worth $14,217,000 after purchasing an additional 157,375 shares during the period. Bank of New York Mellon Corp lifted its stake 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 worth $59,492,000 after purchasing an additional 148,003 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 worth $485,136,000 after purchasing an additional 147,186 shares during the period. Institutional investors own 88.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $71.00 price objective on shares of ONE Gas and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, ONE Gas has a consensus rating of "Moderate Buy" and an average target price of $77.64.

ONE Gas Stock Performance

ONE Gas stock traded up $0.78 during midday trading on Wednesday, hitting $75.47. The stock had a trading volume of 109,531 shares, compared to its average volume of 510,553. ONE Gas, Inc. has a 52-week low of $66.38 and a 52-week high of $82.25. The company has a market capitalization of $4.53 billion, a PE ratio of 18.01, a P/E/G ratio of 3.15 and a beta of 0.85. The firm's fifty day moving average is $74.59 and its two-hundred day moving average is $74.61. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 0.74.

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

ONE Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were paid a dividend of $0.67 per share. The ex-dividend date was Monday, August 18th. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. ONE Gas's dividend payout ratio (DPR) is presently 63.96%.

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.