Bank of America Corp DE grew its position in ONE Gas, Inc. (NYSE:OGS - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,429 shares of the utilities provider's stock after acquiring an additional 47,516 shares during the quarter. Bank of America Corp DE owned 0.35% of ONE Gas worth $13,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. UMB Bank n.a. increased its position in ONE Gas by 3,620.0% in the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider's stock worth $26,000 after purchasing an additional 362 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in ONE Gas during the fourth quarter valued at $26,000. Crews Bank & Trust purchased a new position in shares of ONE Gas in the 4th quarter worth $35,000. Sound Income Strategies LLC bought a new stake in shares of ONE Gas in the 4th quarter worth about $51,000. Finally, Transce3nd LLC bought a new stake in shares of ONE Gas in the 4th quarter worth about $77,000. 88.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and increased their price target for the company from $76.00 to $84.00 in a report on Monday, April 7th. Guggenheim raised their price objective on ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wall Street Zen raised ONE Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Morgan Stanley decreased their price target on ONE Gas from $74.00 to $69.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $75.81.
Check Out Our Latest Stock Analysis on ONE Gas
ONE Gas Trading Up 1.0%
ONE Gas stock traded up $0.76 during mid-day trading on Tuesday, hitting $75.22. The company's stock had a trading volume of 633,379 shares, compared to its average volume of 454,611. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The company has a 50 day moving average of $75.74 and a 200-day moving average of $73.50. ONE Gas, Inc. has a one year low of $58.31 and a one year high of $82.25. The stock has a market cap of $4.51 billion, a PE ratio of 19.24, a P/E/G ratio of 3.64 and a beta of 0.86.
ONE Gas (NYSE:OGS - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.13. The company had revenue of $935.19 million during the quarter, compared to analyst estimates of $882.31 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. ONE Gas's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share. On average, research analysts anticipate 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 will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued a $0.67 dividend. The ex-dividend date is Monday, May 19th. This represents a $2.68 dividend on an annualized basis and a yield of 3.56%. ONE Gas's dividend payout ratio is presently 64.73%.
ONE Gas Company Profile
(
Free Report)
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.
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