Renaissance Technologies LLC Increases Position in ONE Gas, Inc. (NYSE:OGS)

Renaissance Technologies LLC raised its position in shares of ONE Gas, Inc. (NYSE:OGS) by 240.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,100 shares of the utilities provider’s stock after buying an additional 90,500 shares during the period. Renaissance Technologies LLC owned about 0.23% of ONE Gas worth $8,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in ONE Gas by 290.4% during the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 334 shares during the period. Rothschild Investment LLC purchased a new position in shares of ONE Gas in the second quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its stake in shares of ONE Gas by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 337 shares during the period. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 479 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in ONE Gas during the 2nd quarter worth approximately $64,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

ONE Gas Stock Performance

Shares of ONE Gas stock opened at $74.24 on Wednesday. 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, Inc. has a 52 week low of $55.50 and a 52 week high of $74.99. The firm’s 50 day moving average is $69.35 and its two-hundred day moving average is $65.14. The firm has a market capitalization of $4.20 billion, a P/E ratio of 18.33, a P/E/G ratio of 3.84 and a beta of 0.66.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $354.14 million for the quarter, compared to analyst estimates of $362.06 million. ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. ONE Gas’s revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. Research analysts forecast that ONE Gas, Inc. will post 3.84 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Wednesday, August 14th. ONE Gas’s dividend payout ratio is currently 65.19%.

Analysts Set New Price Targets

Several equities analysts have commented on OGS shares. Wells Fargo & Company upgraded shares of ONE Gas from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $71.00 to $80.00 in a research note on Wednesday, September 11th. Mizuho upped their price target on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. StockNews.com cut ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, Morgan Stanley cut their target price on shares of 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 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.64.

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.