ONE Gas (NYSE:OGS) PT Raised to $89.00 at Morgan Stanley

ONE Gas (NYSE:OGS – Get Rating) had its price objective raised by Morgan Stanley from $82.00 to $89.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 1.24% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Mizuho upped their price objective on shares of ONE Gas from $83.00 to $87.00 and gave the company a “buy” rating in a report on Friday, February 25th. StockNews.com started coverage on shares of ONE Gas in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Bank of America upgraded ONE Gas from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Thursday, February 17th. Finally, TheStreet upgraded shares of ONE Gas from a “c” rating to a “b-” rating in a research note on Wednesday, December 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, ONE Gas has a consensus rating of “Hold” and a consensus price target of $84.00.

OGS stock traded up $1.37 during mid-day trading on Wednesday, reaching $90.12. 189 shares of the stock traded hands, compared to its average volume of 328,332. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.09 and a current ratio of 2.27. ONE Gas has a one year low of $62.52 and a one year high of $92.26. The stock has a market capitalization of $4.87 billion, a PE ratio of 23.28, a PEG ratio of 4.37 and a beta of 0.52. The business has a 50-day moving average price of $84.35 and a two-hundred day moving average price of $76.47.

ONE Gas (NYSE:OGS – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The utilities provider reported $1.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.12. The company had revenue of $593.74 million during the quarter, compared to analyst estimates of $499.74 million. ONE Gas had a net margin of 11.41% and a return on equity of 8.90%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, equities analysts expect that ONE Gas will post 4.08 earnings per share for the current fiscal year.

In related news, Director Michael G. Hutchinson sold 750 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $86.12, for a total value of $64,590.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.94% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in OGS. Yousif Capital Management LLC acquired a new stake in ONE Gas in the 4th quarter valued at about $2,145,000. Citigroup Inc. boosted its position in ONE Gas by 23.2% during the third quarter. Citigroup Inc. now owns 27,351 shares of the utilities provider’s stock worth $1,732,000 after purchasing an additional 5,159 shares during the period. SG Americas Securities LLC boosted its position in ONE Gas by 28.7% during the third quarter. SG Americas Securities LLC now owns 36,278 shares of the utilities provider’s stock worth $2,299,000 after purchasing an additional 8,090 shares during the period. Spire Wealth Management boosted its position in shares of ONE Gas by 668.6% in the fourth quarter. Spire Wealth Management now owns 661 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 575 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in shares of ONE Gas in the third quarter valued at approximately $888,000. 80.26% of the stock is owned by institutional investors.

ONE Gas Company Profile (Get Rating)

ONE Gas, Inc engages in the provision of natural gas distribution services. It offers natural gas to residential, commercial, industrial, and transportation customers. The firm operates through three divisions: oklahoma natural gas, kansas gas service and texas gas service The company was founded in 1906 and is headquartered in Tulsa, OK.

See Also