Exchange Traded Concepts LLC Buys 25,043 Shares of ONE Gas, Inc. (NYSE:OGS)

Exchange Traded Concepts LLC lifted its holdings in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 21.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,440 shares of the utilities provider's stock after acquiring an additional 25,043 shares during the quarter. Exchange Traded Concepts LLC owned 0.24% of ONE Gas worth $10,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in ONE Gas by 0.9% in the fourth quarter. Arizona State Retirement System now owns 16,442 shares of the utilities provider's stock valued at $1,139,000 after acquiring an additional 152 shares during the last quarter. Ameriprise Financial Inc. raised its holdings 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 purchasing an additional 154 shares during the period. Oppenheimer Asset Management Inc. raised its holdings 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 purchasing an additional 187 shares during the period. LPL Financial LLC lifted its stake in ONE Gas by 0.8% in the fourth 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 last quarter. Finally, Albert D Mason Inc. grew its holdings in ONE Gas by 1.1% during the first quarter. Albert D Mason Inc. now owns 22,744 shares of the utilities provider's stock valued at $1,719,000 after purchasing an additional 238 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OGS shares. Guggenheim upped their price target on ONE Gas from $69.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded shares of ONE Gas from a "hold" rating to a "buy" rating and increased their target price for the stock from $76.00 to $84.00 in a research report on Monday, April 7th. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley reaffirmed an "underperform" rating on shares of ONE Gas in a report on Wednesday. Finally, Wall Street Zen upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One 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 stock has an average rating of "Hold" and a consensus price target of $77.64.

ONE Gas Price Performance

Shares of OGS traded down $0.09 during midday trading on Thursday, hitting $71.70. 583,920 shares of the company traded hands, compared to its average volume of 470,107. ONE Gas, Inc. has a one year low of $59.80 and a one year high of $82.25. The firm has a market cap of $4.30 billion, a P/E ratio of 17.32, a PEG ratio of 3.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.59 and a quick ratio of 0.54. The stock has a 50-day moving average of $75.63 and a 200-day moving average of $73.20.

ONE Gas (NYSE:OGS - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.13. ONE Gas had a net margin of 10.75% and a return on equity of 8.15%. The business had revenue of $935.19 million for the quarter, compared to analyst estimates of $882.31 million. During the same quarter in the prior year, the firm posted $1.75 EPS. ONE Gas's revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts predict that ONE Gas, Inc. will post 4.26 EPS for the current fiscal 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 given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, May 19th. ONE Gas's payout ratio is 64.73%.

ONE Gas Company 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.