KBC Group NV grew its holdings in ONE Gas, Inc. (NYSE:OGS – Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,697 shares of the utilities provider’s stock after purchasing an additional 479 shares during the period. KBC Group NV’s holdings in ONE Gas were worth $204,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in ONE Gas during the first quarter worth $215,000. State of Alaska Department of Revenue increased its holdings in ONE Gas by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 6,638 shares of the utilities provider’s stock worth $501,000 after buying an additional 175 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in ONE Gas by 21.0% during the first quarter. Exchange Traded Concepts LLC now owns 144,440 shares of the utilities provider’s stock worth $10,918,000 after buying an additional 25,043 shares during the last quarter. Hennessy Advisors Inc. increased its holdings in ONE Gas by 0.9% during the first quarter. Hennessy Advisors Inc. now owns 88,575 shares of the utilities provider’s stock worth $6,695,000 after buying an additional 800 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in ONE Gas by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,254 shares of the utilities provider’s stock worth $322,000 after buying an additional 367 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on OGS. Guggenheim upped their price objective on shares of ONE Gas from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Jefferies Financial Group upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $84.00 in a report on Monday, April 7th. Morgan Stanley reiterated an “underperform” rating on shares of ONE Gas in a report on Wednesday, June 18th. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a “hold” rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of ONE Gas from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.64.
ONE Gas Stock Performance
Shares of OGS stock opened at $72.95 on Monday. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 3.06 and a beta of 0.80. ONE Gas, Inc. has a 52 week low of $61.54 and a 52 week high of $82.25. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $74.54 and a 200-day moving average of $73.26.
ONE Gas (NYSE:OGS – Get Free Report) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.13. ONE Gas had a return on equity of 8.15% and a net margin of 10.75%. The company had revenue of $935.19 million for the quarter, compared to analysts’ expectations of $882.31 million. During the same period last year, the business earned $1.75 EPS. ONE Gas’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current year.
ONE Gas Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.67%. The ex-dividend date was Monday, May 19th. ONE Gas’s dividend payout ratio (DPR) is currently 64.73%.
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.
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