abrdn plc Has $21.96 Million Stock Position in ONE Gas, Inc. (NYSE:OGS)

abrdn plc increased its holdings in ONE Gas, Inc. (NYSE:OGS) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,673 shares of the utilities provider’s stock after acquiring an additional 97,090 shares during the period. abrdn plc’s holdings in ONE Gas were worth $21,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in ONE Gas during the 4th quarter worth approximately $8,825,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of ONE Gas in the 3rd quarter worth $878,000. Lazard Asset Management LLC increased its stake in ONE Gas by 1,674.5% in the 3rd quarter. Lazard Asset Management LLC now owns 30,024 shares of the utilities provider’s stock valued at $2,049,000 after buying an additional 28,332 shares during the last quarter. Prudential PLC lifted its position in shares of ONE Gas by 51.4% during the 3rd quarter. Prudential PLC now owns 58,608 shares of the utilities provider’s stock worth $4,002,000 after buying an additional 19,906 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of ONE Gas by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,402,167 shares of the utilities provider’s stock valued at $437,140,000 after acquiring an additional 27,831 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

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

ONE Gas Stock Down 0.2 %

OGS opened at $64.52 on Wednesday. ONE Gas, Inc. has a 12 month low of $55.50 and a 12 month high of $83.89. The company has a market cap of $3.65 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.65. 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 company has a 50 day moving average of $62.10 and a 200 day moving average of $62.24.

ONE Gas (NYSE:OGS) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.27. The firm had revenue of $605.90 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.23 earnings per share. On average, sell-side analysts expect that ONE Gas, Inc. will post 3.86 EPS for the current year.

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.