Massachusetts Financial Services Co. MA Sells 18,390 Shares of ONE Gas, Inc. (NYSE:OGS)

Massachusetts Financial Services Co. MA reduced its position in ONE Gas, Inc. (NYSE:OGS) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 653,031 shares of the utilities provider’s stock after selling 18,390 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in ONE Gas were worth $48,599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC boosted 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 valued at $27,000 after acquiring an additional 266 shares in the last quarter. Rothschild Investment LLC purchased a new position in ONE Gas during the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC increased its position in ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after buying an additional 349 shares in the last quarter. GAMMA Investing LLC raised its stake in ONE Gas by 75.2% in the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after buying an additional 261 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in ONE Gas in the third quarter worth about $60,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

ONE Gas Price Performance

Shares of NYSE:OGS opened at $77.87 on Monday. ONE Gas, Inc. has a twelve month low of $55.50 and a twelve month high of $78.21. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.41 billion, a PE ratio of 20.28 and a beta of 0.67. The company’s 50 day moving average is $73.60 and its 200 day moving average is $68.18.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The business had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that ONE Gas, Inc. will post 3.88 EPS for the current year.

ONE Gas Announces Dividend

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

Wall Street Analyst Weigh In

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

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.