Bank of America Corp DE Acquires New Position in ONE Gas, Inc. $OGS

Bank of America Corp DE acquired a new position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 571,048 shares of the utilities provider's stock, valued at approximately $44,011,000. Bank of America Corp DE owned about 0.91% of ONE Gas at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of ONE Gas during the 2nd quarter valued at approximately $701,266,000. Energy Income Partners LLC purchased a new position in ONE Gas in the second quarter worth approximately $135,948,000. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 380,668 shares during the period. Norges Bank purchased a new position in ONE Gas in the fourth quarter worth approximately $70,767,000. Finally, Bank of New York Mellon Corp increased its stake in ONE Gas by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 763,877 shares of the utilities provider's stock worth $65,793,000 after acquiring an additional 16,697 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Trading Down 1.1%

NYSE:OGS opened at $74.37 on Tuesday. The stock has a fifty day moving average price of $79.26 and a 200 day moving average price of $81.81. The company has a current ratio of 0.48, a quick ratio of 0.37 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.67 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.67. ONE Gas, Inc. has a 12-month low of $74.28 and a 12-month high of $90.78.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.19. The business had revenue of $411.64 million during the quarter, compared to the consensus estimate of $410.29 million. ONE Gas had a return on equity of 8.81% and a net margin of 12.47%.The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. ONE Gas has set its FY 2026 guidance at 4.830-4.950 EPS. Sell-side analysts anticipate that ONE Gas, Inc. will post 4.92 earnings per share for the current fiscal year.

ONE Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a $0.68 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.7%. ONE Gas's dividend payout ratio is presently 58.62%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OGS. Morgan Stanley cut their price objective on ONE Gas from $82.00 to $79.00 and set an "equal weight" rating for the company in a research report on Friday. BTIG Research reaffirmed a "buy" rating and issued a $96.00 target price on shares of ONE Gas in a research report on Thursday, July 23rd. LADENBURG THALM/SH SH raised shares of ONE Gas from a "neutral" rating to a "buy" rating and set a $85.50 target price for the company in a research note on Thursday, August 13th. Wells Fargo & Company upgraded shares of ONE Gas from a "strong sell" rating to an "equal weight" rating and set a $85.00 price target for the company in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.95.

ONE Gas Company Profile

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