abrdn plc Has $21.96 Million Stock Position in ONE Gas, Inc. (NYSE:OGS)

abrdn plc raised its holdings in ONE Gas, Inc. (NYSE:OGS - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,673 shares of the utilities provider's stock after purchasing an additional 97,090 shares during the quarter. abrdn plc owned 0.62% of ONE Gas worth $21,963,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OGS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ONE Gas by 9.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,475 shares of the utilities provider's stock worth $795,000 after acquiring an additional 1,056 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of ONE Gas during the 4th quarter worth about $555,000. Strs Ohio raised its position in shares of ONE Gas by 3.8% during the 4th quarter. Strs Ohio now owns 19,000 shares of the utilities provider's stock worth $1,210,000 after purchasing an additional 700 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of ONE Gas during the 4th quarter worth about $994,000. Finally, Miller Howard Investments Inc. NY raised its position in shares of ONE Gas by 73.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 17,858 shares of the utilities provider's stock worth $1,138,000 after purchasing an additional 7,555 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on OGS. Mizuho increased their price objective on shares of ONE Gas from $63.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, April 19th. Wells Fargo & Company raised their price target on shares of ONE Gas from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd. LADENBURG THALM/SH SH upgraded shares of ONE Gas from a "neutral" rating to a "buy" rating and set a $64.50 price target for the company in a report on Tuesday, March 5th. UBS Group started coverage on shares of ONE Gas in a research report on Friday, April 12th. They set a "sell" rating and a $61.00 price objective for the company. Finally, Morgan Stanley lifted their target price on ONE Gas from $57.00 to $58.00 and gave the company an "equal weight" rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, ONE Gas presently has a consensus rating of "Hold" and an average price target of $64.56.

ONE Gas Stock Performance

OGS stock traded up $0.42 during trading on Wednesday, hitting $64.93. The company had a trading volume of 330,294 shares, compared to its average volume of 429,328. The firm has a market cap of $3.67 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.65. ONE Gas, Inc. has a 1-year low of $55.50 and a 1-year high of $83.89. The firm has a 50-day moving average price of $62.10 and a 200-day moving average price of $62.24. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78.

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

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.