Kestra Investment Management LLC Takes Position in ONE Gas, Inc. (NYSE:OGS)

Kestra Investment Management LLC purchased a new position in shares of ONE Gas, Inc. (NYSE:OGS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,681 shares of the utilities provider’s stock, valued at approximately $869,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC lifted its stake in ONE Gas by 266.0% in the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 266 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of ONE Gas in the second quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 349 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ONE Gas by 75.2% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 261 shares during the period. Finally, Coastline Trust Co purchased a new stake in ONE Gas in the third quarter worth $60,000. 88.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OGS. Wells Fargo & Company lowered their target price on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley raised their target price on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.10.

ONE Gas Stock Up 0.5 %

Shares of ONE Gas stock opened at $77.97 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 20.30 and a beta of 0.67. The firm’s 50-day moving average is $74.02 and its two-hundred day moving average is $68.69. ONE Gas, Inc. has a 1 year low of $55.50 and a 1 year high of $78.89.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $340.40 million for the quarter, compared to analysts’ expectations of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, research analysts expect that ONE Gas, Inc. will post 3.88 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is currently 68.75%.

ONE Gas Company Profile

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.