Bank of America Begins Coverage on ONE Gas (NYSE:OGS)

Bank of America started coverage on shares of ONE Gas (NYSE:OGS) in a research report report published on Friday morning. The firm issued a buy rating and a $77.00 target price on the utilities provider’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley increased their price target on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. LADENBURG THALM/SH SH cut shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a research note on Friday, December 6th. Finally, Jefferies Financial Group began coverage on shares of ONE Gas in a research report on Monday, December 9th. They set a “hold” rating and a $79.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.69.

ONE Gas Stock Performance

Shares of OGS stock opened at $70.38 on Friday. The firm’s 50 day moving average is $73.86 and its 200 day moving average is $69.48. The stock has a market capitalization of $3.99 billion, a P/E ratio of 18.33 and a beta of 0.70. ONE Gas has a 12 month low of $57.74 and a 12 month high of $78.89. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85.

ONE Gas (NYSE:OGS) last issued its earnings results 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). ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The business had revenue of $340.40 million for the quarter, compared to the consensus estimate of $287.48 million. During the same period in the previous year, the firm earned $0.45 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ONE Gas will post 3.88 earnings per share for the current year.

ONE Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a $0.66 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.64 annualized dividend and a yield of 3.75%. ONE Gas’s dividend payout ratio (DPR) is presently 68.75%.

Institutional Trading of ONE Gas

Several hedge funds have recently added to or reduced their stakes in OGS. Transcendent Capital Group LLC increased its stake in shares of ONE Gas by 266.0% in the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares during the period. Rothschild Investment LLC purchased a new stake in shares of ONE Gas in the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 349 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ONE Gas by 75.2% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 261 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of ONE Gas during the third quarter valued at about $45,000. 88.71% of the stock is owned by institutional investors.

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.