Morgan Stanley Cuts ONE Gas (NYSE:OGS) Price Target to $69.00

ONE Gas (NYSE:OGS - Get Free Report) had its price objective decreased by equities research analysts at Morgan Stanley from $74.00 to $69.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target points to a potential downside of 7.73% from the company's previous close.

A number of other equities research analysts have also commented on the company. Jefferies Financial Group upgraded 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 report on Monday, April 7th. Guggenheim upped their price target 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. StockNews.com raised ONE Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company boosted their price objective on ONE Gas from $82.00 to $89.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, LADENBURG THALM/SH SH raised ONE Gas to a "hold" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $75.81.

ONE Gas Trading Down 1.8%

Shares of NYSE:OGS opened at $74.78 on Thursday. The company has a 50 day moving average of $75.74 and a 200-day moving average of $73.44. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. The firm has a market cap of $4.48 billion, a P/E ratio of 19.13, a P/E/G ratio of 3.64 and a beta of 0.86. ONE Gas has a twelve month low of $58.31 and a twelve month high of $82.25.

ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $935.19 million for the quarter, compared to analyst estimates of $882.31 million. During the same quarter in the previous year, the business posted $1.75 earnings per share. The firm's quarterly revenue was up 23.3% compared to the same quarter last year. As a group, analysts anticipate that ONE Gas will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONE Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGS. Intech Investment Management LLC lifted its stake in shares of ONE Gas by 63.5% during the 1st quarter. Intech Investment Management LLC now owns 81,168 shares of the utilities provider's stock worth $6,135,000 after buying an additional 31,532 shares during the last quarter. Focus Partners Wealth acquired a new position in ONE Gas during the first quarter worth about $256,000. Jane Street Group LLC acquired a new position in shares of ONE Gas during the first quarter worth $5,876,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of ONE Gas by 18.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 219,598 shares of the utilities provider's stock valued at $16,599,000 after buying an additional 34,647 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of ONE Gas by 9.8% in the first quarter. Empowered Funds LLC now owns 5,848 shares of the utilities provider's stock worth $442,000 after acquiring an additional 522 shares during the period. 88.71% of the stock is owned by institutional investors.

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.

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