Intech Investment Management LLC Buys 31,532 Shares of ONE Gas, Inc. $OGS

Key Points

• Intech Investment Management LLC increased its stake in ONE Gas, Inc. by 63.5% during the 1st quarter, now owning 81,168 shares worth approximately $6.14 million.
• Morgan Stanley set a $71.00 target price on ONE Gas shares, which currently has an average target price of $77.64 and a consensus rating of "Moderate Buy."
• ONE Gas announced a quarterly dividend of $0.67 per share, resulting in an annualized dividend of $2.68 and a yield of 3.5%.

Intech Investment Management LLC grew its holdings in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 63.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,168 shares of the utilities provider's stock after purchasing an additional 31,532 shares during the period. Intech Investment Management LLC owned approximately 0.14% of ONE Gas worth $6,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of OGS. Nuveen LLC acquired a new position in ONE Gas during the first quarter valued at approximately $29,697,000. Aberdeen Group plc grew its stake in shares of ONE Gas by 80.6% in the first quarter. Aberdeen Group plc now owns 468,027 shares of the utilities provider's stock worth $35,378,000 after acquiring an additional 208,944 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of ONE Gas by 512.6% in the first quarter. Allianz Asset Management GmbH now owns 188,075 shares of the utilities provider's stock worth $14,217,000 after acquiring an additional 157,375 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ONE Gas by 23.2% in the first quarter. Bank of New York Mellon Corp now owns 787,029 shares of the utilities provider's stock worth $59,492,000 after acquiring an additional 148,003 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in ONE Gas by 2.3% during the first quarter. Vanguard Group Inc. now owns 6,417,990 shares of the utilities provider's stock worth $485,136,000 after buying an additional 147,186 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Stock Up 0.9%

OGS stock traded up $0.64 during trading on Wednesday, reaching $75.33. The stock had a trading volume of 33,213 shares, compared to its average volume of 510,184. ONE Gas, Inc. has a one year low of $66.38 and a one year high of $82.25. The company's 50 day moving average is $74.59 and its two-hundred day moving average is $74.61. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 3.15 and a beta of 0.85. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.74.

ONE Gas (NYSE:OGS - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. ONE Gas had a net margin of 10.63% and a return on equity of 8.07%. The firm had revenue of $423.70 million during the quarter, compared to the consensus estimate of $432.69 million. During the same period in the prior year, the firm earned $0.48 EPS. The company'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. Equities research analysts forecast that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Announces Dividend

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

Analysts Set New Price Targets

Separately, Morgan Stanley set a $71.00 price objective on ONE Gas and gave the company an "outperform" rating in a report on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.64.

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.