Wesbanco Bank Inc. Acquires Shares of 3,707 ONE Gas, Inc. $OGS

Key Points

• Wesbanco Bank Inc. acquired 3,707 shares of ONE Gas, Inc. valued at approximately $266,000, marking its entry into the company's investor group during the second quarter.
• Institutional ownership of ONE Gas is significant, with 88.71% of the company's stock held by institutional investors and hedge funds, indicating strong confidence in the company's performance.
• ONE Gas reported a quarterly EPS of $0.53, meeting expectations, while also disclosing a quarterly dividend of $0.67 per share with a yield of 3.6%.

Wesbanco Bank Inc. acquired a new position in ONE Gas, Inc. (NYSE:OGS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,707 shares of the utilities provider's stock, valued at approximately $266,000.

Several other large investors have also made changes to their positions in the business. Nuveen LLC bought a new position in shares of ONE Gas in the 1st quarter worth $29,697,000. Aberdeen Group plc boosted its holdings in ONE Gas by 80.6% in the first quarter. Aberdeen Group plc now owns 468,027 shares of the utilities provider's stock valued at $35,378,000 after purchasing an additional 208,944 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of ONE Gas by 512.6% during the 1st quarter. Allianz Asset Management GmbH now owns 188,075 shares of the utilities provider's stock valued at $14,217,000 after acquiring an additional 157,375 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ONE Gas by 23.2% during 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 purchasing an additional 148,003 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of ONE Gas by 2.3% in 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ONE Gas Stock Performance

Shares of OGS stock traded up $0.16 during trading on Friday, reaching $75.70. 670,154 shares of the company's stock were exchanged, compared to its average volume of 346,244. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.74. The firm's fifty day moving average price is $74.72 and its 200-day moving average price is $74.63. ONE Gas, Inc. has a twelve month low of $66.38 and a twelve month high of $82.25. The stock has a market capitalization of $4.54 billion, a PE ratio of 18.07, a PEG ratio of 3.14 and a beta of 0.85.

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 return on equity of 8.07% and a net margin of 10.63%.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 company posted $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. As a group, sell-side analysts anticipate that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. ONE Gas's dividend payout ratio is presently 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.