Eaton Vance Management increased its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 12.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 592,068 shares of the utilities provider’s stock after purchasing an additional 65,036 shares during the period. Eaton Vance Management owned 1.11% of ONE Gas worth $45,453,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Graves Light Private Wealth Management Inc. purchased a new stake in ONE Gas during the 4th quarter worth about $25,000. Captrust Financial Advisors lifted its holdings in ONE Gas by 42.9% during the 4th quarter. Captrust Financial Advisors now owns 496 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 149 shares in the last quarter. CI Investments Inc. lifted its holdings in ONE Gas by 58.5% during the 4th quarter. CI Investments Inc. now owns 623 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 230 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in ONE Gas during the 4th quarter worth about $103,000. Finally, Ellevest Inc. lifted its holdings in ONE Gas by 27.4% during the 4th quarter. Ellevest Inc. now owns 1,646 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 354 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of ONE Gas stock opened at $77.39 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.12 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 3.39 and a beta of 0.31. The business’s 50-day moving average price is $73.60 and its 200-day moving average price is $74.03. ONE Gas, Inc. has a 12 month low of $65.51 and a 12 month high of $92.00.
The business also recently declared a quarterly dividend, which was paid on Friday, March 5th. Investors of record on Friday, February 19th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.00%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, February 18th. ONE Gas’s dividend payout ratio (DPR) is presently 66.10%.
Several analysts have weighed in on the company. Morgan Stanley raised their price target on ONE Gas from $72.00 to $76.00 and gave the company an “underweight” rating in a report on Thursday, March 25th. Mizuho reaffirmed a “buy” rating and issued a $81.00 price target on shares of ONE Gas in a report on Thursday, January 21st. Wells Fargo & Company raised their price target on ONE Gas from $75.00 to $83.00 and gave the company an “overweight” rating in a report on Monday, March 29th. UBS Group reaffirmed a “neutral” rating and issued a $80.00 price target (up previously from $79.00) on shares of ONE Gas in a report on Monday, March 29th. Finally, Edward Jones assumed coverage on ONE Gas in a report on Tuesday, March 16th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $80.38.
ONE Gas Company Profile
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates in 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. The company serves residential, commercial and industrial, transportation and wholesale, and public authority customers.
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