IFM Investors Pty Ltd cut its holdings in ONE Gas, Inc. (NYSE:OGS – Get Rating) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,351 shares of the utilities provider's stock after selling 603 shares during the period. IFM Investors Pty Ltd's holdings in ONE Gas were worth $516,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in OGS. Wellington Management Group LLP bought a new stake in ONE Gas in the first quarter worth $33,454,000. State Street Corp lifted its stake in ONE Gas by 14.8% in the first quarter. State Street Corp now owns 2,011,963 shares of the utilities provider's stock worth $177,536,000 after purchasing an additional 258,905 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ONE Gas by 19.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,421,983 shares of the utilities provider's stock valued at $110,332,000 after acquiring an additional 234,312 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of ONE Gas by 257.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the utilities provider's stock valued at $19,398,000 after acquiring an additional 180,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of ONE Gas by 11.5% during the first quarter. Victory Capital Management Inc. now owns 1,360,580 shares of the utilities provider's stock valued at $120,012,000 after acquiring an additional 140,451 shares during the last quarter. 83.60% of the stock is owned by institutional investors.
Get ONE Gas alerts:Wall Street Analyst Weigh In
OGS has been the subject of several recent analyst reports. Morgan Stanley lowered their price objective on shares of ONE Gas from $89.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday, September 22nd. StockNews.com raised shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, August 10th. Mizuho lowered their price objective on shares of ONE Gas from $92.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, August 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of ONE Gas from $98.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, September 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ONE Gas has an average rating of "Moderate Buy" and an average target price of $87.50.
ONE Gas Price Performance
Shares of NYSE OGS opened at $74.05 on Wednesday. ONE Gas, Inc. has a 1 year low of $62.52 and a 1 year high of $92.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.84. The company's 50-day moving average is $81.10 and its 200 day moving average is $83.57. The stock has a market capitalization of $4.01 billion, a P/E ratio of 18.89, a P/E/G ratio of 3.87 and a beta of 0.55.ONE Gas (NYSE:OGS – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $428.98 million for the quarter, compared to analysts' expectations of $328.48 million. ONE Gas had a net margin of 9.34% and a return on equity of 8.85%. ONE Gas's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, sell-side analysts expect that ONE Gas, Inc. will post 4.07 earnings per share for the current year.
ONE Gas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Friday, August 12th. ONE Gas's dividend payout ratio (DPR) is presently 63.27%.
About ONE Gas
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ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states.
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