ONE Gas (NYSE:OGS) Sees Strong Trading Volume

ONE Gas, Inc. (NYSE:OGS) shares saw an uptick in trading volume on Tuesday . 743,848 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 416,132 shares.The stock last traded at $64.19 and had previously closed at $62.78.

Analysts Set New Price Targets

OGS has been the topic of several research reports. UBS Group assumed coverage on shares of ONE Gas in a report on Friday, April 12th. They set a “sell” rating and a $61.00 price target on the stock. StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Mizuho upped their target price on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. LADENBURG THALM/SH SH raised ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price target on the stock in a research note on Tuesday, March 5th. Finally, Morgan Stanley lowered their price objective on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.69.

ONE Gas Price Performance

The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 3.32 and a beta of 0.66. The company has a current ratio of 0.47, a quick ratio of 0.39 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $62.48 and its two-hundred day simple moving average is $62.19.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The firm had revenue of $758.32 million for the quarter, compared to the consensus estimate of $1.05 billion. ONE Gas had a return on equity of 8.37% and a net margin of 10.86%. ONE Gas’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. As a group, research analysts expect that ONE Gas, Inc. will post 3.85 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.64 dividend on an annualized basis and a yield of 4.10%. ONE Gas’s payout ratio is currently 65.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of ONE Gas by 170.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 44,774 shares of the utilities provider’s stock worth $3,057,000 after purchasing an additional 28,231 shares in the last quarter. Mariner LLC increased its stake in ONE Gas by 2.5% during the 3rd quarter. Mariner LLC now owns 17,993 shares of the utilities provider’s stock valued at $1,229,000 after purchasing an additional 442 shares in the last quarter. Natixis Advisors L.P. raised its holdings in ONE Gas by 3.1% during the third quarter. Natixis Advisors L.P. now owns 17,709 shares of the utilities provider’s stock worth $1,209,000 after buying an additional 540 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in ONE Gas during the third quarter worth $2,059,000. Finally, Gotham Asset Management LLC bought a new position in shares of ONE Gas in the third quarter valued at $706,000. 88.71% of the stock is owned by 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.