Concurrent Investment Advisors LLC Takes Position in ONE Gas, Inc. (NYSE:OGS)

Concurrent Investment Advisors LLC purchased a new position in ONE Gas, Inc. (NYSE:OGS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,654 shares of the utilities provider's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in shares of ONE Gas by 0.9% in the fourth quarter. Arizona State Retirement System now owns 16,442 shares of the utilities provider's stock worth $1,139,000 after acquiring an additional 152 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of ONE Gas by 0.3% in the fourth quarter. Ameriprise Financial Inc. now owns 61,011 shares of the utilities provider's stock worth $4,225,000 after acquiring an additional 154 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of ONE Gas by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 6,638 shares of the utilities provider's stock worth $501,000 after acquiring an additional 175 shares during the last quarter. LPL Financial LLC raised its position in ONE Gas by 0.8% in the 4th quarter. LPL Financial LLC now owns 28,800 shares of the utilities provider's stock worth $1,994,000 after buying an additional 220 shares during the last quarter. Finally, Albert D Mason Inc. lifted its stake in ONE Gas by 1.1% during the 1st quarter. Albert D Mason Inc. now owns 22,744 shares of the utilities provider's stock valued at $1,719,000 after acquiring an additional 238 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Trading Down 1.6%

Shares of OGS stock traded down $1.17 on Tuesday, reaching $72.85. 284,033 shares of the company's stock were exchanged, compared to its average volume of 467,235. ONE Gas, Inc. has a 52 week low of $65.18 and a 52 week high of $82.25. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The stock has a market capitalization 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 company's fifty day simple moving average is $74.02 and its 200 day simple moving average is $73.38.

ONE Gas (NYSE:OGS - Get Free Report) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.13. The business 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 8.15% and a net margin of 10.75%. ONE Gas's revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS. As a group, analysts forecast that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a dividend of $0.67 per share. The ex-dividend date was Monday, May 19th. This represents a $2.68 annualized dividend and a yield of 3.68%. ONE Gas's dividend payout ratio (DPR) is 64.73%.

Analyst Ratings Changes

Several equities analysts have issued reports on OGS shares. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company increased their target price on ONE Gas from $82.00 to $89.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen raised ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Jefferies Financial Group raised ONE Gas from a "hold" rating to a "buy" rating and increased their target price for the company from $76.00 to $84.00 in a report on Monday, April 7th. Finally, Guggenheim increased their target price on ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $77.64.

ONE Gas 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.