UBS Group Initiates Coverage on ONE Gas (NYSE:OGS)

UBS Group started coverage on shares of ONE Gas (NYSE:OGS - Free Report) in a research note published on Friday, MarketBeat Ratings reports. The brokerage issued a sell rating and a $61.00 target price on the utilities provider's stock.

A number of other brokerages have also recently issued reports on OGS. LADENBURG THALM/SH SH upgraded shares of ONE Gas from a neutral rating to a buy rating and set a $64.50 target price for the company in a research report on Tuesday, March 5th. Morgan Stanley lifted their target price on shares of ONE Gas from $57.00 to $58.00 and gave the stock an equal weight rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company lifted their target price on shares of ONE Gas from $60.00 to $63.00 and gave the stock an equal weight rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $64.44.

ONE Gas Price Performance

OGS stock traded down $0.62 during trading on Friday, reaching $62.09. 473,120 shares of the company were exchanged, compared to its average volume of 437,947. The company has a market cap of $3.51 billion, a P/E ratio of 15.00, a PEG ratio of 3.26 and a beta of 0.65. ONE Gas has a 52-week low of $55.50 and a 52-week high of $83.89. The stock's 50 day moving average price is $61.67 and its 200 day moving average price is $62.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.39 and a current ratio of 0.52.

ONE Gas (NYSE:OGS - Get Free Report) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.27. The company had revenue of $605.90 million during the quarter, compared to analysts' expectations of $751.77 million. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. The firm's quarterly revenue was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, analysts predict that ONE Gas will post 3.86 earnings per share for the current fiscal year.

ONE Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, February 22nd. This is a positive change from ONE Gas's previous quarterly dividend of $0.65. ONE Gas's payout ratio is currently 63.77%.

Hedge Funds Weigh In On ONE Gas

Several institutional investors and hedge funds have recently bought and sold shares of OGS. Garner Asset Management Corp acquired a new position in ONE Gas during the fourth quarter worth approximately $26,000. BKM Wealth Management LLC purchased a new stake in ONE Gas during the fourth quarter worth approximately $28,000. Quadrant Capital Group LLC grew its stake in ONE Gas by 290.4% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider's stock worth $29,000 after buying an additional 334 shares during the period. Lazard Asset Management LLC purchased a new stake in ONE Gas during the fourth quarter worth approximately $32,000. Finally, Jones Financial Companies Lllp grew its stake in ONE Gas by 112.3% during the fourth quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider's stock worth $41,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 88.71% of the company's stock.

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.