Morgan Stanley Increases ONE Gas (OGS) Price Target to $75.00
ONE Gas (NYSE:OGS) had its target price raised by research analysts at Morgan Stanley from $72.00 to $75.00 in a research note issued to investors on Wednesday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 1.94% from the company’s previous close.
Several other equities analysts also recently weighed in on OGS. BidaskClub raised ONE Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Jefferies Group reaffirmed a “sell” rating and issued a $62.00 price objective on shares of ONE Gas in a research note on Sunday, September 10th. Zacks Investment Research downgraded ONE Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, UBS downgraded ONE Gas from a “neutral” rating to a “sell” rating and raised their price objective for the company from $71.00 to $72.00 in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.50.
ONE Gas (NYSE OGS) traded up $1.04 during midday trading on Wednesday, reaching $76.48. The company had a trading volume of 225,618 shares, compared to its average volume of 189,525. ONE Gas has a 12-month low of $61.42 and a 12-month high of $79.51. The stock has a market cap of $4,000.00, a P/E ratio of 25.68, a P/E/G ratio of 4.05 and a beta of 0.08. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.62.
ONE Gas (NYSE:OGS) last released its quarterly earnings data on Monday, October 30th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. ONE Gas had a return on equity of 8.22% and a net margin of 10.42%. The firm had revenue of $247.14 million during the quarter, compared to the consensus estimate of $242.75 million. During the same period last year, the business posted $0.24 EPS. equities research analysts anticipate that ONE Gas will post 3.02 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC purchased a new position in ONE Gas during the third quarter worth $341,000. California Public Employees Retirement System increased its position in ONE Gas by 9.6% during the third quarter. California Public Employees Retirement System now owns 124,021 shares of the utilities provider’s stock worth $9,133,000 after buying an additional 10,821 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in ONE Gas by 76.5% during the third quarter. Cubist Systematic Strategies LLC now owns 6,158 shares of the utilities provider’s stock worth $453,000 after buying an additional 2,670 shares in the last quarter. Janus Henderson Group PLC purchased a new position in ONE Gas during the third quarter worth $1,912,000. Finally, Schwab Charles Investment Management Inc. increased its position in ONE Gas by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 336,355 shares of the utilities provider’s stock worth $24,770,000 after buying an additional 16,286 shares in the last quarter. 72.78% of the stock is owned by institutional investors.
About ONE Gas
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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