Mizuho Increases ONE Gas (NYSE:OGS) Price Target to $64.00

ONE Gas (NYSE:OGS) had its price target increased by equities researchers at Mizuho from $63.00 to $64.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price objective would suggest a potential downside of 0.61% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on ONE Gas from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Morgan Stanley upped their price objective on ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. LADENBURG THALM/SH SH raised ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price objective on the stock in a research report on Tuesday, March 5th. Finally, UBS Group initiated coverage on ONE Gas in a report on Friday, April 12th. They set a “sell” rating and a $61.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.56.

ONE Gas Stock Performance

Shares of OGS opened at $64.39 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $61.95 and its 200-day moving average price is $62.34. ONE Gas has a 52 week low of $55.50 and a 52 week high of $83.89. The stock has a market cap of $3.64 billion, a P/E ratio of 15.55, a P/E/G ratio of 3.22 and a beta of 0.65.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $1.27 EPS for the quarter, hitting analysts’ consensus estimates of $1.27. The firm had revenue of $605.90 million for 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 revenue for the quarter was down 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. Equities research analysts anticipate that ONE Gas will post 3.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ONE Gas

Several hedge funds and other institutional investors have recently modified their holdings of OGS. HighTower Advisors LLC increased its stake in shares of ONE Gas by 1.8% in the 1st quarter. HighTower Advisors LLC now owns 11,783 shares of the utilities provider’s stock worth $1,038,000 after purchasing an additional 211 shares in the last quarter. AlphaCrest Capital Management LLC increased its stake in shares of ONE Gas by 34.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 4,448 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 1,148 shares in the last quarter. Natixis Advisors L.P. increased its stake in ONE Gas by 5.1% in the 1st quarter. Natixis Advisors L.P. now owns 14,201 shares of the utilities provider’s stock worth $1,253,000 after buying an additional 684 shares in the last quarter. Bank of Montreal Can increased its stake in ONE Gas by 2.9% in the 1st quarter. Bank of Montreal Can now owns 24,354 shares of the utilities provider’s stock worth $2,157,000 after buying an additional 682 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in ONE Gas in the 1st quarter worth $872,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.