EverSource Wealth Advisors LLC Raises Holdings in ONE Gas, Inc. (NYSE:OGS)

EverSource Wealth Advisors LLC boosted its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 150.4% in the 2nd quarter, Holdings Channel reports. The fund owned 581 shares of the utilities provider’s stock after buying an additional 349 shares during the period. EverSource Wealth Advisors LLC’s holdings in ONE Gas were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of ONE Gas during the 4th quarter valued at approximately $30,395,000. Corient Private Wealth LLC increased its holdings in ONE Gas by 18.4% in the fourth quarter. Corient Private Wealth LLC now owns 8,126 shares of the utilities provider’s stock valued at $518,000 after buying an additional 1,263 shares in the last quarter. Jones Financial Companies Lllp raised its position 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 worth $41,000 after acquiring an additional 337 shares during the period. First Trust Advisors LP boosted its stake in shares of ONE Gas by 15.3% during the 4th quarter. First Trust Advisors LP now owns 1,108,868 shares of the utilities provider’s stock worth $70,657,000 after acquiring an additional 147,471 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in shares of ONE Gas by 2.2% during the 4th quarter. Magellan Asset Management Ltd now owns 39,593 shares of the utilities provider’s stock valued at $2,523,000 after acquiring an additional 834 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

ONE Gas Stock Up 0.7 %

NYSE OGS opened at $74.20 on Friday. ONE Gas, Inc. has a one year low of $55.50 and a one year high of $74.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.32 and a current ratio of 0.41. The business has a fifty day moving average price of $69.66 and a 200 day moving average price of $65.34. The company has a market cap of $4.20 billion, a P/E ratio of 18.32, a P/E/G ratio of 3.87 and a beta of 0.66.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results 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 business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Research analysts anticipate that ONE Gas, Inc. will post 3.84 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend 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

A number of equities analysts recently weighed in on OGS shares. 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. Wells Fargo & Company raised ONE Gas from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $71.00 to $80.00 in a research note on Wednesday, September 11th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, Morgan Stanley upped their price objective on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three equities research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.21.

ONE Gas 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.