ONE Gas Inc. (OGS) Shares Gap Up to $61.93
Shares of ONE Gas Inc. (NYSE:OGS) gapped up prior to trading on Tuesday . The stock had previously closed at $61.90, but opened at $61.93. ONE Gas shares last traded at $61.97, with a volume of 45,512 shares trading hands.
Several research firms have issued reports on OGS. Zacks Investment Research upgraded ONE Gas from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, August 4th. Jefferies Group lowered ONE Gas from a “hold” rating to an “underperform” rating and set a $53.00 target price on the stock. in a research note on Monday, July 25th. BB&T Corp. began coverage on ONE Gas in a research note on Wednesday, June 22nd. They issued a “hold” rating on the stock. Finally, Wells Fargo & Co. began coverage on ONE Gas in a research note on Tuesday, August 30th. They issued a “market perform” rating on the stock. Two investment 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. The company has an average rating of “Hold” and a consensus target price of $59.00.
The firm has a 50 day moving average price of $62.13 and a 200 day moving average price of $61.48. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 24.82 and a beta of 0.11.
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ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.07. ONE Gas had a return on equity of 7.12% and a net margin of 9.61%. The firm had revenue of $245.92 million for the quarter, compared to analysts’ expectations of $289.73 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. ONE Gas’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts forecast that ONE Gas Inc. will post $2.60 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.27%. The ex-dividend date was Thursday, August 11th. ONE Gas’s payout ratio is currently 56.45%.
In other ONE Gas news, Director Eduardo A. Rodriguez sold 1,325 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $60.96, for a total transaction of $80,772.00. Following the sale, the director now owns 8,060 shares in the company, valued at $491,337.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.25% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of ONE Gas during the fourth quarter valued at about $31,344,000. Aperio Group LLC raised its position in ONE Gas by 22.6% in the first quarter. Aperio Group LLC now owns 102,850 shares of the company’s stock valued at $6,284,000 after buying an additional 18,981 shares during the period. Virginia Retirement System bought a new position in ONE Gas during the first quarter valued at approximately $1,564,000. Los Angeles Capital Management & Equity Research Inc. raised its position in ONE Gas by 65.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,082 shares of the company’s stock valued at $799,000 after buying an additional 5,159 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in ONE Gas by 19.0% in the first quarter. TIAA CREF Investment Management LLC now owns 200,605 shares of the company’s stock valued at $12,257,000 after buying an additional 31,970 shares during the period. Hedge funds and other institutional investors own 72.35% of the company’s stock.
About ONE Gas
ONE Gas, Inc is an independent natural gas utility in the United States. The Company is a natural gas distributor in Oklahoma, Kansas and Texas. The Company operates in one segment: regulated public utilities that deliver natural gas to residential, commercial, industrial and transportation customers.
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