ONE Gas (NYSE:OGS) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of ONE Gas (NYSE:OGS) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $80.00 target price on the utilities provider’s stock, up from their previous target price of $71.00.

Other equities analysts also recently issued research reports about the company. Mizuho upped their price objective on ONE Gas from $64.00 to $65.00 and gave the company a neutral rating in a research note on Wednesday, June 5th. StockNews.com downgraded ONE Gas from a hold rating to a sell rating in a research note on Saturday, July 20th. Finally, Morgan Stanley dropped their price objective on ONE Gas from $61.00 to $58.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $64.64.

ONE Gas Price Performance

Shares of NYSE OGS opened at $72.67 on Wednesday. ONE Gas has a twelve month low of $55.50 and a twelve month high of $75.89. The stock’s 50 day moving average price is $68.10 and its 200-day moving average price is $64.45. The company has a market capitalization of $4.12 billion, a PE ratio of 17.94, a PEG ratio of 3.68 and a beta of 0.66. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. The business had revenue of $354.14 million during the quarter, compared to analysts’ expectations of $362.06 million. During the same quarter in the previous year, the firm earned $0.58 EPS. ONE Gas’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities analysts anticipate that ONE Gas will post 3.84 EPS for the current year.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a yield of 3.63%. ONE Gas’s payout ratio is 65.19%.

Institutional Investors Weigh In On ONE Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC raised its holdings 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 acquiring an additional 174 shares during the period. Tidal Investments LLC increased its holdings in shares of ONE Gas by 6.1% in the first quarter. Tidal Investments LLC now owns 3,580 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 206 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of ONE Gas by 0.9% in the second quarter. Harbor Capital Advisors Inc. now owns 25,019 shares of the utilities provider’s stock worth $1,597,000 after purchasing an additional 230 shares during the period. GW Henssler & Associates Ltd. increased its holdings in shares of ONE Gas by 7.4% in the first quarter. GW Henssler & Associates Ltd. now owns 3,442 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 237 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of ONE Gas by 1.8% in the second quarter. Linden Thomas Advisory Services LLC now owns 15,213 shares of the utilities provider’s stock worth $971,000 after purchasing an additional 270 shares during the period. Institutional investors own 88.71% of the company’s stock.

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.