Hsbc Holdings PLC Purchases 29,983 Shares of ONE Gas, Inc. $OGS

Key Points

• HSBC Holdings PLC increased its stake in ONE Gas by 72.5% during the first quarter, acquiring nearly 30,000 additional shares to bring its total ownership to 71,348 shares valued at approximately $5.4 million.
• Brokerages have recently revised their ratings on ONE Gas, with Wells Fargo raising the price target from $82.00 to $89.00 and offering an "overweight" rating, while Morgan Stanley maintained an "underperform" rating.
• ONE Gas declared a quarterly dividend of $0.67 per share, with an annual yield of 3.6% and a payout ratio of approximately 63.96%.

Hsbc Holdings PLC increased its position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 72.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,348 shares of the utilities provider's stock after buying an additional 29,983 shares during the period. Hsbc Holdings PLC owned 0.12% of ONE Gas worth $5,406,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OGS. UMB Bank n.a. raised its stake in ONE Gas by 69.1% during the first quarter. UMB Bank n.a. now owns 629 shares of the utilities provider's stock worth $48,000 after buying an additional 257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in ONE Gas during the fourth quarter worth $50,000. Farther Finance Advisors LLC raised its stake in ONE Gas by 195.6% during the first quarter. Farther Finance Advisors LLC now owns 801 shares of the utilities provider's stock worth $61,000 after buying an additional 530 shares during the last quarter. GAMMA Investing LLC raised its stake in ONE Gas by 102.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the utilities provider's stock worth $102,000 after buying an additional 682 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in ONE Gas during the first quarter worth $151,000. Institutional investors own 88.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OGS. Morgan Stanley reissued an "underperform" rating on shares of ONE Gas in a research note on Wednesday, June 18th. Wall Street Zen raised shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of ONE Gas from $82.00 to $89.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Guggenheim lifted their price target on shares of ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $77.64.

ONE Gas Trading Down 2.1%

NYSE:OGS opened at $75.3770 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.52 and a quick ratio of 0.42. The firm has a 50-day moving average of $73.54 and a 200-day moving average of $74.30. The company has a market cap of $4.52 billion, a PE ratio of 17.99, a PEG ratio of 3.19 and a beta of 0.82. ONE Gas, Inc. has a one year low of $66.38 and a one year high of $82.25.

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. The company had revenue of $423.70 million during the quarter, compared to the consensus estimate of $432.69 million. ONE Gas had a net margin of 10.63% and a return on equity of 8.07%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. ONE Gas has set its FY 2025 guidance at 4.320-4.420 EPS. As a group, equities research analysts expect that ONE Gas, Inc. will post 4.26 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, August 18th. This represents a $2.68 annualized dividend and a yield of 3.6%. ONE Gas's payout ratio is 63.96%.

About ONE Gas

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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