Bank of New York Mellon Corp Acquires 148,003 Shares of ONE Gas, Inc. (NYSE:OGS)

Bank of New York Mellon Corp increased its position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 787,029 shares of the utilities provider's stock after acquiring an additional 148,003 shares during the period. Bank of New York Mellon Corp owned approximately 1.31% of ONE Gas worth $59,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV increased its holdings in ONE Gas by 21.6% during the 1st quarter. KBC Group NV now owns 2,697 shares of the utilities provider's stock worth $204,000 after acquiring an additional 479 shares during the period. GAMMA Investing LLC increased its holdings in ONE Gas by 102.7% during the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the utilities provider's stock worth $102,000 after acquiring an additional 682 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in ONE Gas by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 783,238 shares of the utilities provider's stock worth $54,239,000 after acquiring an additional 24,860 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in ONE Gas by 9.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,254 shares of the utilities provider's stock worth $322,000 after acquiring an additional 367 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in ONE Gas by 195.6% during the 1st quarter. Farther Finance Advisors LLC now owns 801 shares of the utilities provider's stock worth $61,000 after acquiring an additional 530 shares during the period. Institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "underperform" rating on shares of ONE Gas in a report on Wednesday, June 18th. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company increased their price target on shares of ONE Gas from $82.00 to $89.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and increased their price target for the stock from $76.00 to $84.00 in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, ONE Gas has an average rating of "Hold" and a consensus price target of $77.64.

ONE Gas Price Performance

Shares of ONE Gas stock opened at $73.08 on Friday. ONE Gas, Inc. has a 52-week low of $65.18 and a 52-week high of $82.25. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 3.09 and a beta of 0.80. The company has a fifty day moving average of $74.02 and a 200-day moving average of $73.34. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.59.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.13. The company had revenue of $935.19 million during the quarter, compared to analysts' expectations of $882.31 million. ONE Gas had a net margin of 10.75% and a return on equity of 8.15%. The firm's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. Equities research analysts expect that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.68 annualized dividend and a yield of 3.67%. ONE Gas's payout ratio is currently 64.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.