ONE Gas (NYSE:OGS - Get Rating) had its target price reduced by stock analysts at Morgan Stanley from $89.00 to $87.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 9.70% from the company's current price.
Several other equities research analysts have also commented on OGS. Wells Fargo & Company decreased their price target on ONE Gas from $98.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday. Mizuho dropped their price target on ONE Gas from $92.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, August 3rd. Finally, StockNews.com raised shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.50.
ONE Gas Stock Performance
Shares of ONE Gas stock traded up $0.37 on Thursday, reaching $79.31. 4,269 shares of the stock were exchanged, compared to its average volume of 239,176. The firm has a market capitalization of $4.29 billion, a PE ratio of 20.23, a PEG ratio of 3.92 and a beta of 0.55. ONE Gas has a 1-year low of $62.52 and a 1-year high of $92.26. The business has a fifty day moving average price of $81.26 and a two-hundred day moving average price of $83.78. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.93.
ONE Gas (NYSE:OGS - Get Rating) last released its quarterly earnings data on Monday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The business had revenue of $428.98 million during the quarter, compared to analysts' expectations of $328.48 million. ONE Gas had a return on equity of 8.85% and a net margin of 9.34%. The company's revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, research analysts anticipate that ONE Gas will post 4.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ONE Gas
A number of institutional investors have recently added to or reduced their stakes in OGS. Pinebridge Investments L.P. raised its position in ONE Gas by 206.0% in the second quarter. Pinebridge Investments L.P. now owns 306 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 206 shares during the period. Quadrant Capital Group LLC lifted its position in ONE Gas by 85.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 346 shares of the utilities provider's stock worth $28,000 after acquiring an additional 159 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in ONE Gas in the 2nd quarter worth approximately $34,000. Bivin & Associates Inc. purchased a new stake in shares of ONE Gas during the fourth quarter valued at approximately $47,000. Finally, Lazard Asset Management LLC purchased a new position in shares of ONE Gas in the second quarter valued at $47,000. Hedge funds and other institutional investors own 83.60% of the company's stock.
About ONE Gas
ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states.
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