Allspring Global Investments Holdings LLC Reduces Holdings in ONE Gas, Inc. (NYSE:OGS)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of ONE Gas, Inc. (NYSE:OGS) by 61.4% in the fourth quarter, HoldingsChannel reports. The firm owned 11,789 shares of the utilities provider’s stock after selling 18,726 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ONE Gas were worth $751,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of ONE Gas during the 4th quarter worth approximately $8,825,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of ONE Gas during the 3rd quarter worth approximately $878,000. Lazard Asset Management LLC increased its stake in shares of ONE Gas by 1,674.5% during the 3rd quarter. Lazard Asset Management LLC now owns 30,024 shares of the utilities provider’s stock worth $2,049,000 after purchasing an additional 28,332 shares in the last quarter. Prudential PLC increased its stake in shares of ONE Gas by 51.4% during the 3rd quarter. Prudential PLC now owns 58,608 shares of the utilities provider’s stock worth $4,002,000 after purchasing an additional 19,906 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of ONE Gas by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,402,167 shares of the utilities provider’s stock worth $437,140,000 after purchasing an additional 27,831 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OGS. LADENBURG THALM/SH SH raised shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price objective for the company in a research note on Tuesday, March 5th. UBS Group began coverage on shares of ONE Gas in a research note on Friday, April 12th. They issued a “sell” rating and a $61.00 target price for the company. Wells Fargo & Company lifted their target price on shares of ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Morgan Stanley lifted their target price on shares of ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, Mizuho lifted their target price on shares of ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.56.

ONE Gas Stock Up 0.7 %

Shares of NYSE OGS opened at $64.93 on Thursday. ONE Gas, Inc. has a 52-week low of $55.50 and a 52-week high of $83.89. The firm has a fifty day moving average of $62.20 and a 200-day moving average of $62.26. The stock has a market capitalization of $3.67 billion, a PE ratio of 15.68, a P/E/G ratio of 3.35 and a beta of 0.65. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.27. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. The company had revenue of $605.90 million during the quarter, compared to analysts’ expectations of $751.77 million. During the same period in the previous year, the company earned $1.23 EPS. The business’s quarterly revenue was down 26.0% compared to the same quarter last year. On average, analysts anticipate that ONE Gas, Inc. will post 3.86 EPS for the current year.

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.