Bank of Montreal Can Purchases New Holdings in ONE Gas, Inc. (NYSE:OGS)

Bank of Montreal Can purchased a new stake in ONE Gas, Inc. (NYSE:OGS) in the second quarter, HoldingsChannel reports. The firm purchased 32,824 shares of the utilities provider’s stock, valued at approximately $2,711,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OGS. Disciplined Investments LLC boosted its stake in ONE Gas by 3,937.5% in the first quarter. Disciplined Investments LLC now owns 323 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. Lazard Asset Management LLC bought a new position in ONE Gas in the fourth quarter valued at approximately $32,000. Venturi Wealth Management LLC bought a new position in ONE Gas in the first quarter valued at approximately $46,000. Rockefeller Capital Management L.P. boosted its stake in ONE Gas by 276.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 682 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 501 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in ONE Gas in the first quarter valued at approximately $73,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Trading Down 0.0 %

OGS opened at $62.19 on Tuesday. The stock has a market capitalization of $3.45 billion, a P/E ratio of 15.17, a P/E/G ratio of 3.03 and a beta of 0.68. ONE Gas, Inc. has a 12 month low of $59.38 and a 12 month high of $89.01. The firm’s fifty day simple moving average is $69.20 and its 200 day simple moving average is $75.20. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 0.70.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. ONE Gas had a net margin of 8.80% and a return on equity of 8.64%. The firm had revenue of $335.82 million for the quarter, compared to analyst estimates of $459.11 million. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts anticipate that ONE Gas, Inc. will post 4.12 EPS for the current fiscal year.

ONE Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.60 annualized dividend and a yield of 4.18%. ONE Gas’s payout ratio is currently 63.41%.

Analyst Ratings Changes

OGS has been the topic of a number of recent research reports. TheStreet cut shares of ONE Gas from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. Bank of America cut shares of ONE Gas from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $60.00 in a research report on Wednesday, October 25th. Guggenheim reduced their price target on shares of ONE Gas from $73.00 to $64.00 in a research report on Monday, October 9th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Mizuho reduced their price target on shares of ONE Gas from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, ONE Gas has an average rating of “Hold” and a consensus target price of $71.33.

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.