Pinebridge Investments L.P. Has $3.47 Million Stake in ONE Gas, Inc. (NYSE:OGS)

Pinebridge Investments L.P. lifted its position in ONE Gas, Inc. (NYSE:OGS - Free Report) by 42.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,077 shares of the utilities provider's stock after purchasing an additional 14,980 shares during the quarter. Pinebridge Investments L.P. owned 0.09% of ONE Gas worth $3,468,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in shares of ONE Gas in the third quarter valued at $3,135,000. Atria Wealth Solutions Inc. acquired a new position in shares of ONE Gas in the fourth quarter valued at $203,000. KBC Group NV raised its stake in shares of ONE Gas by 41.0% in the fourth quarter. KBC Group NV now owns 2,218 shares of the utilities provider's stock valued at $154,000 after purchasing an additional 645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ONE Gas by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,238 shares of the utilities provider's stock valued at $54,239,000 after purchasing an additional 24,860 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of ONE Gas by 4.6% in the third quarter. Franklin Resources Inc. now owns 701,933 shares of the utilities provider's stock valued at $50,785,000 after purchasing an additional 31,045 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OGS. Morgan Stanley set a $74.00 price objective on shares of ONE Gas and gave the company an "outperform" rating in a report on Wednesday, April 23rd. StockNews.com upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Jefferies Financial Group upgraded shares of ONE Gas from a "hold" rating to a "buy" rating and increased their target price for the stock from $76.00 to $84.00 in a report on Monday, April 7th. Finally, LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research report on Monday, March 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $75.79.

ONE Gas Price Performance

NYSE OGS traded down $0.84 on Thursday, hitting $77.67. 97,555 shares of the company's stock were exchanged, compared to its average volume of 418,572. The stock has a 50-day moving average of $75.02 and a 200-day moving average of $73.08. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. ONE Gas, Inc. has a 52 week low of $58.31 and a 52 week high of $79.24. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.64 and a beta of 0.74.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. Analysts expect that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Company Profile

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.