ONE Gas (NYSE:OGS) Price Target Raised to $71.00 at Morgan Stanley

ONE Gas (NYSE:OGS - Get Free Report) had its price objective lifted by investment analysts at Morgan Stanley from $69.00 to $71.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price objective suggests a potential downside of 1.39% from the company's previous close.

Several other equities analysts have also recently commented on OGS. Wells Fargo & Company increased their target price on ONE Gas from $82.00 to $89.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Jefferies Financial Group upgraded shares of ONE Gas from a "hold" rating to a "buy" rating and upped their target price for the company from $76.00 to $84.00 in a research note on Monday, April 7th. Guggenheim increased their price target on shares of ONE Gas from $69.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, LADENBURG THALM/SH SH raised ONE Gas to a "hold" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $77.64.

ONE Gas Trading Up 0.3%

Shares of ONE Gas stock traded up $0.21 during trading hours on Wednesday, reaching $72.00. The stock had a trading volume of 151,476 shares, compared to its average volume of 467,860. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 3.02 and a beta of 0.82. ONE Gas has a 1 year low of $59.80 and a 1 year high of $82.25. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. The firm has a 50 day simple moving average of $75.65 and a two-hundred day simple moving average of $73.21.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.13. The firm had revenue of $935.19 million for the quarter, compared to analysts' expectations of $882.31 million. ONE Gas had a net margin of 10.75% and a return on equity of 8.15%. ONE Gas's revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 earnings per share. As a group, equities research analysts anticipate that ONE Gas will post 4.26 earnings per share for the current year.

Institutional Trading of ONE Gas

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in shares of ONE Gas during the first quarter valued at $476,000. Advisors Capital Management LLC bought a new stake in shares of ONE Gas during the 1st quarter worth about $562,000. Intech Investment Management LLC lifted its stake in shares of ONE Gas by 63.5% in the 1st quarter. Intech Investment Management LLC now owns 81,168 shares of the utilities provider's stock worth $6,135,000 after acquiring an additional 31,532 shares during the period. Focus Partners Wealth bought a new position in shares of ONE Gas in the first quarter valued at approximately $256,000. Finally, Jane Street Group LLC bought a new position in shares of ONE Gas in the first quarter valued at approximately $5,876,000. Institutional investors 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.

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