ONE Gas (NYSE:OGS) Stock Rating Upgraded by Wells Fargo & Company

ONE Gas (NYSE:OGS) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $80.00 target price on the utilities provider’s stock, up from their previous target price of $71.00. Wells Fargo & Company‘s price objective indicates a potential upside of 12.42% from the company’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Morgan Stanley decreased their target price on shares of ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, Mizuho lifted their price objective on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Three equities 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. Based on data from MarketBeat, ONE Gas has a consensus rating of “Hold” and an average price target of $64.64.

ONE Gas Trading Up 0.7 %

NYSE:OGS opened at $71.16 on Wednesday. ONE Gas has a 52 week low of $55.50 and a 52 week high of $75.89. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 3.57 and a beta of 0.66. The company’s 50 day moving average price is $67.75 and its 200-day moving average price is $64.31. 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 posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate 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 prior year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities research analysts forecast that ONE Gas will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONE Gas

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of ONE Gas by 290.4% in the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 334 shares during the period. Rothschild Investment LLC bought a new position in ONE Gas in the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC increased its stake in ONE Gas by 150.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after buying an additional 349 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in ONE Gas by 112.3% during the fourth quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 337 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in shares of ONE Gas by 147.8% in the first quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 479 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.