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ONE Gas, Inc. (NYSE:OGS) Short Interest Update

Tuesday, May 4, 2021 | MarketBeat

ONE Gas, Inc. (NYSE:OGS) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 1,070,000 shares, a decline of 15.1% from the March 31st total of 1,260,000 shares. Based on an average daily trading volume, of 281,700 shares, the days-to-cover ratio is currently 3.8 days. Currently, 2.1% of the shares of the stock are short sold.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System grew its holdings in ONE Gas by 2.1% during the first quarter. State of Michigan Retirement System now owns 19,707 shares of the utilities provider's stock valued at $1,516,000 after purchasing an additional 400 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of ONE Gas by 2.6% in the first quarter. Virginia Retirement Systems ET AL now owns 253,800 shares of the utilities provider's stock worth $19,520,000 after acquiring an additional 6,500 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of ONE Gas by 107.8% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 254,353 shares of the utilities provider's stock worth $19,562,000 after acquiring an additional 131,953 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of ONE Gas by 75.9% in the first quarter. Meeder Asset Management Inc. now owns 1,613 shares of the utilities provider's stock worth $124,000 after acquiring an additional 696 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. grew its stake in shares of ONE Gas by 9.7% in the first quarter. NN Investment Partners Holdings N.V. now owns 71,493 shares of the utilities provider's stock worth $5,499,000 after acquiring an additional 6,308 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OGS opened at $80.58 on Tuesday. ONE Gas has a one year low of $65.51 and a one year high of $86.07. The company has a 50-day moving average of $77.76 and a two-hundred day moving average of $75.25. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.31. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.64 and a quick ratio of 0.46.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Sunday, May 2nd. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.02). The business had revenue of $625.90 million for the quarter, compared to the consensus estimate of $589.57 million. ONE Gas had a net margin of 12.63% and a return on equity of 8.69%. ONE Gas's revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. Analysts anticipate that ONE Gas will post 3.61 earnings per share for the current year.

OGS has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of ONE Gas from $75.00 to $83.00 and gave the company an "overweight" rating in a research note on Monday, March 29th. Bank of America reissued an "underperform" rating on shares of ONE Gas in a research note on Monday, March 15th. Edward Jones began coverage on ONE Gas in a report on Tuesday, March 16th. They issued a "hold" rating on the stock. Mizuho reissued a "buy" rating and set a $81.00 price objective on shares of ONE Gas in a research note on Thursday, January 21st. Finally, Morgan Stanley upped their target price on ONE Gas from $76.00 to $77.00 and gave the company an "underweight" rating in a report on Monday, April 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. ONE Gas presently has an average rating of "Hold" and an average target price of $80.50.

ONE Gas Company Profile

ONE Gas, Inc 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. The company serves residential, commercial, and transportation customers.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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