ONE Gas Inc. (OGS) Raised to “Hold” at Jefferies Group
ONE Gas Inc. (NYSE:OGS) was upgraded by stock analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $53.00 target price on the stock. Jefferies Group’s price target would indicate a potential downside of 12.56% from the company’s previous close.
Several other research firms have also weighed in on OGS. Zacks Investment Research upgraded ONE Gas from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, July 13th. 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.00.
ONE Gas (NYSE:OGS) traded up 0.05% on Thursday, reaching $60.55. The company’s stock had a trading volume of 158,784 shares. The firm has a market capitalization of $3.16 billion, a PE ratio of 24.34 and a beta of 0.11. The stock’s 50 day moving average is $60.95 and its 200-day moving average is $61.59. ONE Gas has a 52 week low of $45.57 and a 52 week high of $67.35.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/jefferies-group-upgrades-one-gas-inc-ogs-to-hold.html
ONE Gas (NYSE:OGS) last posted its earnings results on Monday, August 1st. The company reported $0.38 earnings per share 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 company had revenue of $245.92 million for the quarter, compared to analyst estimates of $289.73 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that ONE Gas will post $2.60 EPS for the current year.
In related news, Director Eduardo A. Rodriguez sold 1,325 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $60.96, for a total transaction of $80,772.00. Following the transaction, the director now directly owns 8,060 shares in the company, valued at $491,337.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.25% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of ONE Gas by 50.1% in the first quarter. Goldman Sachs Group Inc. now owns 206,384 shares of the company’s stock valued at $12,610,000 after buying an additional 68,916 shares in the last quarter. BlackRock Group LTD raised its position in shares of ONE Gas by 18.2% in the first quarter. BlackRock Group LTD now owns 61,857 shares of the company’s stock valued at $3,779,000 after buying an additional 9,545 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of ONE Gas by 4,445.1% in the second quarter. JPMorgan Chase & Co. now owns 60,722 shares of the company’s stock valued at $4,044,000 after buying an additional 59,386 shares in the last quarter. State Street Corp raised its position in shares of ONE Gas by 0.5% in the first quarter. State Street Corp now owns 1,717,404 shares of the company’s stock valued at $104,933,000 after buying an additional 8,601 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of ONE Gas by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,506,006 shares of the company’s stock valued at $92,017,000 after buying an additional 24,210 shares in the last quarter. Hedge funds and other institutional investors own 71.69% 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.
Receive News & Ratings for ONE Gas Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONE Gas Inc. and related companies with MarketBeat.com's FREE daily email newsletter.