Morgan Stanley Increases ONE Gas (NYSE:OGS) Price Target to $69.00

ONE Gas (NYSE:OGS) had its price target upped by stock analysts at Morgan Stanley from $63.00 to $69.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 7.39% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Wells Fargo & Company raised ONE Gas from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $80.00 in a report on Wednesday, September 11th. Finally, Mizuho boosted their target price on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.21.

ONE Gas Stock Performance

Shares of NYSE OGS traded up $0.27 during midday trading on Wednesday, hitting $74.51. 100,848 shares of the company’s stock were exchanged, compared to its average volume of 418,806. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32. The stock’s 50 day moving average price is $69.35 and its 200-day moving average price is $65.14. The firm has a market cap of $4.22 billion, a P/E ratio of 18.45, a PEG ratio of 3.87 and a beta of 0.66. ONE Gas has a twelve month low of $55.50 and a twelve month high of $74.99.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business 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%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Equities research analysts anticipate that ONE Gas will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its holdings in shares of ONE Gas by 21.7% in the second quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock valued at $62,000 after buying an additional 174 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of ONE Gas by 6.1% in the first quarter. Tidal Investments LLC now owns 3,580 shares of the utilities provider’s stock valued at $228,000 after buying an additional 206 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in ONE Gas by 0.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,019 shares of the utilities provider’s stock worth $1,597,000 after purchasing an additional 230 shares in the last quarter. GW Henssler & Associates Ltd. grew its position in ONE Gas by 7.4% during the 1st quarter. GW Henssler & Associates Ltd. now owns 3,442 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 237 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in ONE Gas by 1.8% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 15,213 shares of the utilities provider’s stock worth $971,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

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.