Oppenheimer Asset Management Inc. Makes New $1.60 Million Investment in ONE Gas, Inc. (NYSE:OGS)

Oppenheimer Asset Management Inc. purchased a new stake in shares of ONE Gas, Inc. (NYSE:OGS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,428 shares of the utilities provider’s stock, valued at approximately $1,595,000.

Other large investors have also recently modified their holdings of the company. Transcendent Capital Group LLC increased its holdings in ONE Gas by 266.0% during the 3rd 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 period. Rothschild Investment LLC bought a new stake in shares of ONE Gas in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in ONE Gas by 150.4% in the second 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 period. GAMMA Investing LLC grew 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 worth $45,000 after acquiring an additional 261 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in ONE Gas by 21.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OGS. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on 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 given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONE Gas currently has an average rating of “Hold” and an average price target of $68.10.

ONE Gas Stock Performance

Shares of OGS stock opened at $75.40 on Monday. ONE Gas, Inc. has a 12-month low of $55.50 and a 12-month high of $76.34. The business’s fifty day simple moving average is $72.99 and its 200-day simple moving average is $67.78. 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 $4.27 billion, a PE ratio of 19.64, a PEG ratio of 3.89 and a beta of 0.67.

ONE Gas (NYSE:OGS) last announced its earnings results 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 analyst estimates of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts expect that ONE Gas, Inc. will post 3.88 earnings per share for the current fiscal year.

ONE Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is presently 68.75%.

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.