Foundry Partners LLC increased its stake in ONE Gas Inc (NYSE:OGS) by 68.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the utilities provider’s stock after buying an additional 2,025 shares during the period. Foundry Partners LLC’s holdings in ONE Gas were worth $418,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its stake in ONE Gas by 7.4% in the 4th quarter. State Street Corp now owns 1,841,470 shares of the utilities provider’s stock worth $172,306,000 after buying an additional 126,872 shares during the period. Goldman Sachs Group Inc. increased its stake in ONE Gas by 508.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 922,172 shares of the utilities provider’s stock worth $86,287,000 after buying an additional 770,504 shares during the period. Victory Capital Management Inc. increased its stake in ONE Gas by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 765,814 shares of the utilities provider’s stock worth $72,369,000 after buying an additional 3,662 shares during the period. Geode Capital Management LLC increased its stake in ONE Gas by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 694,671 shares of the utilities provider’s stock worth $65,000,000 after buying an additional 35,075 shares during the period. Finally, Cohen & Steers Inc. increased its stake in ONE Gas by 3.7% in the 4th quarter. Cohen & Steers Inc. now owns 621,999 shares of the utilities provider’s stock worth $58,200,000 after buying an additional 22,375 shares during the period. 79.07% of the stock is currently owned by institutional investors.
OGS has been the topic of several recent analyst reports. Bank of America started coverage on shares of ONE Gas in a research note on Thursday, January 30th. They issued an “underperform” rating and a $95.00 price target on the stock. UBS Group dropped their target price on shares of ONE Gas from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Cfra increased their target price on shares of ONE Gas from $100.00 to $102.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Zacks Investment Research cut shares of ONE Gas from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of ONE Gas from $80.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $90.00.
ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, April 27th. The utilities provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.06). ONE Gas had a net margin of 12.16% and a return on equity of 8.67%. The firm had revenue of $528.20 million during the quarter, compared to the consensus estimate of $621.40 million. During the same quarter in the prior year, the business posted $1.76 earnings per share. The firm’s quarterly revenue was down 20.1% on a year-over-year basis. On average, research analysts forecast that ONE Gas Inc will post 3.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, May 12th. ONE Gas’s dividend payout ratio is currently 61.54%.
In other news, Director John William Gibson purchased 3,417 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $76.18 per share, for a total transaction of $260,307.06. 1.85% of the stock is currently owned by company insiders.
ONE Gas Company Profile
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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