Connors Investor Services Inc. Has $2.45 Million Stake in ONE Gas, Inc. $OGS

Key Points

• Connors Investor Services Inc. reduced its stake in ONE Gas, Inc. by 15.2%, now holding approximately 34,039 shares valued at $2.45 million.
• ONE Gas reported earnings of $0.53 per share, meeting analyst expectations, with revenue of $423.70 million, a 19.7% increase year-over-year.
• The company declared a quarterly dividend of $0.67 per share, resulting in an annual dividend yield of 3.3%.

Connors Investor Services Inc. trimmed its position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 15.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,039 shares of the utilities provider's stock after selling 6,119 shares during the period. Connors Investor Services Inc. owned approximately 0.06% of ONE Gas worth $2,446,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Diversified Trust Co grew its stake in ONE Gas by 1.4% during the second quarter. Diversified Trust Co now owns 10,660 shares of the utilities provider's stock worth $766,000 after buying an additional 151 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of ONE Gas by 20.1% in the 2nd quarter. Parallel Advisors LLC now owns 910 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 152 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of ONE Gas by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 6,638 shares of the utilities provider's stock valued at $501,000 after purchasing an additional 175 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of ONE Gas by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,604 shares of the utilities provider's stock valued at $1,028,000 after purchasing an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of ONE Gas by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the utilities provider's stock valued at $1,202,000 after purchasing an additional 200 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Stock Up 0.5%

NYSE:OGS opened at $82.39 on Thursday. The firm's 50 day simple moving average is $77.69 and its 200 day simple moving average is $75.57. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.52 and a quick ratio of 0.42. ONE Gas, Inc. has a one year low of $66.38 and a one year high of $83.27. The company has a market cap of $4.94 billion, a PE ratio of 19.66, a P/E/G ratio of 3.39 and a beta of 0.85.

ONE Gas (NYSE:OGS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. ONE Gas had a net margin of 10.63% and a return on equity of 8.07%. The business had revenue of $423.70 million for the quarter, compared to the consensus estimate of $432.69 million. During the same period last year, the company earned $0.48 EPS. The firm's revenue was up 19.7% compared to the same quarter last year. ONE Gas has set its FY 2025 guidance at 4.320-4.420 EPS. On average, research analysts anticipate that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 18th. This represents a $2.68 annualized dividend and a yield of 3.3%. ONE Gas's dividend payout ratio (DPR) is presently 63.96%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OGS. Mizuho upgraded shares of ONE Gas from a "neutral" rating to an "outperform" rating and raised their price target for the company from $77.00 to $86.00 in a research note on Friday, September 26th. Morgan Stanley restated an "outperform" rating and issued a $72.00 price target on shares of ONE Gas in a research note on Wednesday. Weiss Ratings restated a "buy (b-)" rating on shares of ONE Gas in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price target on shares of ONE Gas from $89.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.69.

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.

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