ONE Gas, Inc. (NYSE:OGS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of ONE Gas, Inc. (NYSE:OGS) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,781 shares of the utilities provider’s stock after selling 3,543 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ONE Gas were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Energy Income Partners LLC lifted its stake in ONE Gas by 52.9% during the first quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock worth $68,317,000 after purchasing an additional 366,363 shares during the last quarter. American Century Companies Inc. raised its holdings in ONE Gas by 6.3% during the second quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock worth $293,590,000 after purchasing an additional 272,923 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of ONE Gas in the 1st quarter valued at $16,939,000. International Assets Investment Management LLC boosted its holdings in shares of ONE Gas by 9,036.9% in the 3rd quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock valued at $15,061,000 after buying an additional 200,168 shares in the last quarter. Finally, Earnest Partners LLC acquired a new stake in ONE Gas during the 2nd quarter worth $12,594,000. 88.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on OGS. Wells Fargo & Company decreased 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 note on Wednesday, November 6th. Morgan Stanley upped their target price on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, ONE Gas currently has an average rating of “Hold” and an average price target of $68.10.

ONE Gas Stock Performance

NYSE OGS opened at $74.22 on Friday. The business’s 50-day moving average price is $72.76 and its 200 day moving average price is $67.63. 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 firm has a market cap of $4.20 billion, a P/E ratio of 19.37, a P/E/G ratio of 3.88 and a beta of 0.67. ONE Gas, Inc. has a 52-week low of $55.50 and a 52-week high of $76.34.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The company had revenue of $340.40 million for the quarter, compared to analysts’ expectations of $287.48 million. During the same quarter last year, the company earned $0.45 EPS. ONE Gas’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts expect that ONE Gas, Inc. will post 3.88 earnings per share for the current year.

ONE Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 annualized dividend and a yield of 3.56%. ONE Gas’s dividend payout ratio is currently 68.75%.

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.