Allspring Global Investments Holdings LLC Decreases Position in ONE Gas, Inc. (NYSE:OGS)

Allspring Global Investments Holdings LLC cut its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 61.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,789 shares of the utilities provider’s stock after selling 18,726 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ONE Gas were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in shares of ONE Gas in the fourth quarter worth approximately $28,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of ONE Gas in the third quarter worth approximately $189,000. CI Investments Inc. raised its holdings in shares of ONE Gas by 288.0% in the third quarter. CI Investments Inc. now owns 2,879 shares of the utilities provider’s stock worth $197,000 after buying an additional 2,137 shares during the period. AE Wealth Management LLC purchased a new stake in shares of ONE Gas in the third quarter worth approximately $205,000. Finally, Blair William & Co. IL raised its holdings in shares of ONE Gas by 8.4% in the third quarter. Blair William & Co. IL now owns 3,080 shares of the utilities provider’s stock worth $210,000 after buying an additional 238 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

ONE Gas Stock Up 0.7 %

Shares of NYSE OGS opened at $64.93 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3.67 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.65. The stock’s fifty day simple moving average is $62.20 and its two-hundred day simple moving average is $62.26. ONE Gas, Inc. has a 12-month low of $55.50 and a 12-month high of $83.89.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $1.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.27. The firm had revenue of $605.90 million during the quarter, compared to analysts’ expectations of $751.77 million. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The business’s quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. As a group, analysts expect that ONE Gas, Inc. will post 3.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OGS shares. Mizuho increased their price target on ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. LADENBURG THALM/SH SH upgraded ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price target on the stock in a report on Tuesday, March 5th. Wells Fargo & Company increased their price objective on ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. UBS Group initiated coverage on ONE Gas in a research note on Friday, April 12th. They issued a “sell” rating and a $61.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Three research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.56.

About ONE Gas

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.