JPMorgan Chase & Co. Lowers Holdings in ONE Gas, Inc. (NYSE:OGS)

JPMorgan Chase & Co. reduced its stake in ONE Gas, Inc. (NYSE:OGS) by 5.3% during the third quarter, HoldingsChannel reports. The fund owned 712,217 shares of the utilities provider’s stock after selling 40,187 shares during the period. JPMorgan Chase & Co.’s holdings in ONE Gas were worth $53,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its position in ONE Gas by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock valued at $293,590,000 after purchasing an additional 272,923 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock valued at $258,283,000 after buying an additional 645,566 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ONE Gas by 0.7% during the second quarter. Victory Capital Management Inc. now owns 1,470,218 shares of the utilities provider’s stock valued at $93,873,000 after acquiring an additional 10,189 shares in the last quarter. Geode Capital Management LLC raised its holdings in ONE Gas by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,354,710 shares of the utilities provider’s stock worth $100,836,000 after acquiring an additional 18,477 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in ONE Gas by 10.4% in the 3rd quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock valued at $78,082,000 after acquiring an additional 98,489 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Stock Performance

Shares of NYSE OGS opened at $69.02 on Friday. ONE Gas, Inc. has a 12-month low of $57.74 and a 12-month high of $78.89. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 17.97 and a beta of 0.71. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $72.75 and a 200 day moving average of $70.21.

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

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Tuesday, November 19th. ONE Gas’s payout ratio is 68.75%.

Analysts Set New Price Targets

A number of research firms have commented on OGS. Wells Fargo & Company reduced their target price on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on ONE Gas in a report on Monday, December 9th. They issued a “hold” rating and a $79.00 price objective for the company. Stifel Nicolaus upped their target price on shares of ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, LADENBURG THALM/SH SH downgraded shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price objective on the stock. in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, ONE Gas presently has an average rating of “Hold” and a consensus price target of $72.69.

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.