Bank of New York Mellon Corp Invests $56.31 Million in ONE Gas, Inc. $OGS

Key Points

• Bank of New York Mellon acquired 730,608 shares of ONE Gas worth approximately $56.3 million, taking a 1.16% stake. Institutional investors and hedge funds collectively own 88.71% of the company.
• ONE Gas reported quarterly EPS of $0.82, exceeding the $0.63 consensus estimate, while revenue of $411.64 million slightly topped expectations but declined 2.8% year over year.
• The company declared a quarterly dividend of $0.68 per share, equivalent to a $2.72 annualized payout and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.23.

Bank of New York Mellon Corp purchased a new position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 730,608 shares of the utilities provider's stock, valued at approximately $56,308,000. Bank of New York Mellon Corp owned about 1.16% of ONE Gas at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OGS. Alliancebernstein L.P. boosted its position in shares of ONE Gas by 1,393.0% in the second quarter. Alliancebernstein L.P. now owns 1,597,487 shares of the utilities provider's stock valued at $114,795,000 after acquiring an additional 1,490,492 shares during the period. Goldman Sachs Group Inc. raised its stake in ONE Gas by 37.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,398,440 shares of the utilities provider's stock worth $108,029,000 after purchasing an additional 380,668 shares in the last quarter. Energy Income Partners LLC raised its stake in ONE Gas by 1.1% in the 1st quarter. Energy Income Partners LLC now owns 1,331,076 shares of the utilities provider's stock worth $114,646,000 after purchasing an additional 14,085 shares in the last quarter. Morgan Stanley boosted its holdings in ONE Gas by 28.2% in the 4th quarter. Morgan Stanley now owns 992,430 shares of the utilities provider's stock valued at $76,665,000 after purchasing an additional 218,571 shares during the period. Finally, Norges Bank bought a new stake in ONE Gas in the 4th quarter valued at about $70,767,000. 88.71% of the stock is owned by institutional investors and hedge funds.

ONE Gas Stock Up 0.8%

NYSE OGS opened at $81.08 on Thursday. ONE Gas, Inc. has a fifty-two week low of $74.06 and a fifty-two week high of $90.78. The business has a fifty day moving average price of $79.08 and a two-hundred day moving average price of $82.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.48 and a quick ratio of 0.37. The stock has a market capitalization of $5.10 billion, a PE ratio of 17.47, a PEG ratio of 2.21 and a beta of 0.66.

ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.19. ONE Gas had a return on equity of 8.81% and a net margin of 12.47%.The company had revenue of $411.64 million during the quarter, compared to analysts' expectations of $410.29 million. During the same quarter in the previous year, the firm earned $0.53 EPS. ONE Gas's revenue was down 2.8% on a year-over-year basis. ONE Gas has set its FY 2026 guidance at 4.830-4.950 EPS. Equities analysts expect that ONE Gas, Inc. will post 4.91 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.72 annualized dividend and a yield of 3.4%. ONE Gas's payout ratio is presently 58.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of ONE Gas from $89.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Mizuho reduced their price target on ONE Gas from $94.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 9th. Wall Street Zen upgraded ONE Gas from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Wells Fargo & Company upgraded ONE Gas from a "strong sell" rating to an "equal weight" rating and set a $85.00 target price for the company in a research report on Thursday, August 6th. Finally, BTIG Research reissued a "buy" rating and set a $96.00 target price on shares of ONE Gas in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, ONE Gas presently has an average rating of "Moderate Buy" and an average target price of $89.23.

ONE Gas Company Profile

ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company's service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.

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