HighTower Advisors LLC Cuts Stock Position in ONE Gas, Inc. (NYSE:OGS)

HighTower Advisors LLC trimmed its holdings in shares of ONE Gas, Inc. (NYSE:OGS) by 6.2% in the third quarter, Holdings Channel reports. The firm owned 23,662 shares of the utilities provider’s stock after selling 1,565 shares during the period. HighTower Advisors LLC’s holdings in ONE Gas were worth $1,760,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OGS. American Century Companies Inc. boosted its position in shares of ONE Gas by 6.3% in the second quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock worth $293,590,000 after buying an additional 272,923 shares during the period. Victory Capital Management Inc. boosted its holdings in ONE Gas by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,470,218 shares of the utilities provider’s stock worth $93,873,000 after acquiring an additional 10,189 shares during the period. Boston Trust Walden Corp grew its position in ONE Gas by 10.4% in the third quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock valued at $78,082,000 after acquiring an additional 98,489 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ONE Gas by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 897,568 shares of the utilities provider’s stock valued at $57,308,000 after purchasing an additional 61,192 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of ONE Gas by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 792,440 shares of the utilities provider’s stock worth $50,597,000 after purchasing an additional 20,065 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OGS has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of ONE Gas in a report on Monday, December 9th. They set a “hold” rating and a $79.00 price target for the company. Morgan Stanley upped their target price 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. Bank of America began coverage on ONE Gas in a research note on Friday. They issued a “buy” rating and a $77.00 price target for the company. Wells Fargo & Company reduced their target price on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.69.

ONE Gas Stock Up 0.2 %

Shares of ONE Gas stock opened at $70.38 on Friday. ONE Gas, Inc. has a twelve month low of $57.74 and a twelve month high of $78.89. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 18.33 and a beta of 0.70. 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 business’s 50 day simple moving average is $73.86 and its 200-day simple moving average is $69.40.

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

ONE Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, November 19th. ONE Gas’s payout ratio is 68.75%.

ONE Gas 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.