Merit Financial Group LLC Purchases Shares of 8,247 ONE Gas, Inc. (NYSE:OGS)

Merit Financial Group LLC acquired a new position in ONE Gas, Inc. (NYSE:OGS - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,247 shares of the utilities provider's stock, valued at approximately $623,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in shares of ONE Gas in the 4th quarter valued at about $1,333,000. Empowered Funds LLC bought a new position in ONE Gas in the 4th quarter worth about $369,000. Van ECK Associates Corp boosted its holdings in shares of ONE Gas by 8.9% in the fourth quarter. Van ECK Associates Corp now owns 16,865 shares of the utilities provider's stock valued at $1,168,000 after acquiring an additional 1,383 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of ONE Gas by 1.9% in the fourth quarter. Rhumbline Advisers now owns 208,298 shares of the utilities provider's stock valued at $14,425,000 after acquiring an additional 3,828 shares in the last quarter. Finally, Americana Partners LLC bought a new position in shares of ONE Gas in the fourth quarter valued at approximately $2,615,000. Institutional investors and hedge funds own 88.71% of the company's stock.

ONE Gas Stock Performance

Shares of NYSE:OGS traded down $1.48 on Friday, hitting $72.46. 397,188 shares of the company were exchanged, compared to its average volume of 467,163. The company's 50 day moving average price is $75.67 and its two-hundred day moving average price is $73.35. ONE Gas, Inc. has a one year low of $59.80 and a one year high of $82.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 3.64 and a beta of 0.82.

ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.13. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The company had revenue of $935.19 million for the quarter, compared to the consensus estimate of $882.31 million. During the same quarter in the previous year, the firm posted $1.75 EPS. The business's revenue was up 23.3% compared to the same quarter last year. Research analysts expect that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $0.67 per share. The ex-dividend date was Monday, May 19th. This represents a $2.68 annualized dividend and a dividend yield of 3.70%. ONE Gas's dividend payout ratio (DPR) is currently 64.73%.

Wall Street Analysts Forecast Growth

OGS has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of ONE Gas from $82.00 to $89.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and raised their price objective for the stock from $76.00 to $84.00 in a research note on Monday, April 7th. Morgan Stanley decreased their target price on shares of ONE Gas from $74.00 to $69.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, ONE Gas has a consensus rating of "Hold" and a consensus price target of $77.36.

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.