Sterling Capital Management LLC Increases Stake in ONE Gas, Inc. (NYSE:OGS)

Sterling Capital Management LLC raised its holdings in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 5,736.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,322 shares of the utilities provider's stock after purchasing an additional 11,128 shares during the period. Sterling Capital Management LLC's holdings in ONE Gas were worth $784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OGS. Norges Bank bought a new position in ONE Gas during the 4th quarter valued at about $43,344,000. Bank of Montreal Can raised its holdings in shares of ONE Gas by 1,421.7% during the fourth quarter. Bank of Montreal Can now owns 489,028 shares of the utilities provider's stock valued at $33,865,000 after purchasing an additional 456,891 shares during the last quarter. JPMorgan Chase & Co. lifted its position in ONE Gas by 21.3% during the fourth quarter. JPMorgan Chase & Co. now owns 864,245 shares of the utilities provider's stock valued at $59,849,000 after purchasing an additional 152,028 shares during the period. Barclays PLC boosted its holdings in ONE Gas by 105.6% in the third quarter. Barclays PLC now owns 105,607 shares of the utilities provider's stock worth $7,859,000 after purchasing an additional 54,237 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in ONE Gas by 61.8% in the 4th quarter. First Eagle Investment Management LLC now owns 140,914 shares of the utilities provider's stock worth $9,758,000 after purchasing an additional 53,800 shares during the period. Institutional investors own 88.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Jefferies Financial Group raised ONE Gas from a "hold" rating to a "buy" rating and increased their target price for the company from $76.00 to $84.00 in a report on Monday, April 7th. Morgan Stanley boosted their price target on ONE Gas from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a research note on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, ONE Gas has a consensus rating of "Hold" and an average target price of $75.21.

ONE Gas Stock Performance

Shares of NYSE OGS traded up $1.62 during trading on Tuesday, hitting $78.43. The company had a trading volume of 342,939 shares, compared to its average volume of 413,700. ONE Gas, Inc. has a 12 month low of $58.31 and a 12 month high of $78.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The firm has a market capitalization of $4.70 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The stock has a 50 day simple moving average of $74.30 and a 200 day simple moving average of $72.80.

ONE Gas (NYSE:OGS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $630.70 million for 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%. As a group, analysts anticipate 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.