ONE Gas (NYSE:OGS) Now Covered by Analysts at Bank of America

Analysts at Bank of America began coverage on shares of ONE Gas (NYSE:OGS) in a report issued on Friday. The firm set a “buy” rating and a $77.00 price target on the utilities provider’s stock. Bank of America‘s price target points to a potential upside of 9.41% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on ONE Gas in a research report on Monday, December 9th. They set a “hold” rating and a $79.00 target price on the stock. Finally, Morgan Stanley raised their price target on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, ONE Gas has a consensus rating of “Hold” and a consensus target price of $72.69.

ONE Gas Stock Performance

Shares of OGS stock opened at $70.38 on Friday. The stock’s 50-day moving average price is $73.86 and its 200 day moving average price is $69.40. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.99 billion, a PE ratio of 18.33 and a beta of 0.70. ONE Gas has a 52-week low of $57.74 and a 52-week high of $78.89.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $287.48 million. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that ONE Gas will post 3.88 EPS for the current year.

Hedge Funds Weigh In On ONE Gas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Transcendent Capital Group LLC increased its position in shares of 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 buying an additional 266 shares in the last quarter. Rothschild Investment LLC acquired a new stake in ONE Gas in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 349 shares in the last quarter. GAMMA Investing LLC raised its position in ONE Gas by 75.2% during the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 261 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of ONE Gas in the third quarter valued at about $45,000. 88.71% of the stock is owned by institutional investors and hedge funds.

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.