Bank of New York Mellon Corp Boosts Stake in ONE Gas, Inc. (NYSE:OGS)

Bank of New York Mellon Corp lifted its position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,029 shares of the utilities provider's stock after purchasing an additional 148,003 shares during the period. Bank of New York Mellon Corp owned about 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 also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in ONE Gas during the 4th quarter worth approximately $26,000. UMB Bank n.a. raised its holdings in ONE Gas by 69.1% during the 1st quarter. UMB Bank n.a. now owns 629 shares of the utilities provider's stock worth $48,000 after purchasing an additional 257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in ONE Gas during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC raised 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 purchasing an additional 530 shares during the last quarter. Finally, Transce3nd LLC acquired a new position in ONE Gas in the fourth quarter valued at $77,000. 88.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OGS has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of ONE Gas from a "hold" rating to a "buy" rating and boosted their target price for the company from $76.00 to $84.00 in a research report on Monday, April 7th. Wells Fargo & Company raised their price objective on ONE Gas from $82.00 to $89.00 and gave the company an "overweight" rating in a research note on Wednesday, May 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. Morgan Stanley restated an "underperform" rating on shares of ONE Gas in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $77.64.

ONE Gas Stock Down 1.6%

Shares of NYSE OGS traded down $1.17 during trading on Tuesday, reaching $72.85. The company had a trading volume of 284,033 shares, compared to its average volume of 467,235. ONE Gas, Inc. has a 12-month low of $65.18 and a 12-month high of $82.25. The stock has a market cap of $4.37 billion, a PE ratio of 17.60, a P/E/G ratio of 3.07 and a beta of 0.80. The business's 50-day moving average is $74.02 and its 200 day moving average is $73.38. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.74.

ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 EPS for the quarter, topping the consensus estimate of $1.85 by $0.13. ONE Gas had a return on equity of 8.15% and a net margin of 10.75%. The firm had revenue of $935.19 million for the quarter, compared to the consensus estimate of $882.31 million. During the same quarter last year, the company earned $1.75 earnings per share. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Monday, May 19th. ONE Gas's dividend payout ratio is 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.