Merit Financial Group LLC purchased a new position in ONE Gas, Inc. (NYSE:OGS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,247 shares of the utilities provider's stock, valued at approximately $623,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System raised its stake in ONE Gas by 0.9% during the fourth quarter. Arizona State Retirement System now owns 16,442 shares of the utilities provider's stock worth $1,139,000 after buying an additional 152 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of ONE Gas by 0.3% in the 4th 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 in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of ONE Gas by 0.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 21,615 shares of the utilities provider's stock worth $1,497,000 after acquiring an additional 187 shares in the last quarter. LPL Financial LLC lifted its stake in shares of ONE Gas by 0.8% in the 4th quarter. LPL Financial LLC now owns 28,800 shares of the utilities provider's stock valued at $1,994,000 after purchasing an additional 220 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of ONE Gas by 4.1% during the 4th quarter. Guggenheim Capital LLC now owns 6,907 shares of the utilities provider's stock valued at $478,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.
ONE Gas Stock Up 1.2%
NYSE OGS traded up $0.86 during mid-day trading on Tuesday, hitting $74.47. The company's stock had a trading volume of 334,781 shares, compared to its average volume of 538,174. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 3.64 and a beta of 0.82. The company's 50 day simple moving average is $75.66 and its 200 day simple moving average is $73.37. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. ONE Gas, Inc. has a twelve month low of $59.80 and a twelve month high of $82.25.
ONE Gas (NYSE:OGS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.13. The firm had revenue of $935.19 million during the quarter, compared to analysts' expectations of $882.31 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The business's revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Analysts anticipate that ONE Gas, Inc. will post 4.26 earnings per share for the current year.
ONE Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, May 19th. ONE Gas's dividend payout ratio is currently 64.73%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on OGS shares. Jefferies Financial Group upgraded ONE Gas from a "hold" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $84.00 in a report on Monday, April 7th. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley cut their target price on shares of ONE Gas from $74.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. 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 upped their price objective on shares of ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $77.36.
Read Our Latest Stock Analysis on ONE Gas
ONE Gas Company Profile
(
Free Report)
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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