abrdn plc Purchases 9,487 Shares of ONE Gas, Inc. (NYSE:OGS)

abrdn plc increased its position in shares of ONE Gas, Inc. (NYSE:OGS) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,405 shares of the utilities provider’s stock after acquiring an additional 9,487 shares during the period. abrdn plc owned about 0.58% of ONE Gas worth $24,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in ONE Gas during the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of ONE Gas by 150.4% during the second quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 349 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of ONE Gas by 75.2% in the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after buying an additional 261 shares during the period. Hexagon Capital Partners LLC grew 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 worth $62,000 after acquiring an additional 174 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in ONE Gas in the 2nd quarter valued at approximately $64,000. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Stock Down 1.3 %

Shares of NYSE OGS opened at $71.27 on Friday. The company has a 50-day moving average price of $71.95 and a 200-day moving average price of $66.98. ONE Gas, Inc. has a 1 year low of $55.50 and a 1 year high of $74.99. The stock has a market capitalization of $4.03 billion, a P/E ratio of 17.83, a P/E/G ratio of 3.78 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data 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). The business had revenue of $354.14 million during the quarter, compared to analysts’ expectations of $362.06 million. ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. On average, equities research analysts forecast that ONE Gas, Inc. will post 3.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OGS has been the subject of several analyst reports. Wells Fargo & Company raised their target price on ONE Gas from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, Morgan Stanley upped their price target on shares of ONE Gas from $63.00 to $69.00 and gave the company 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 assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.30.

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.