ONE Gas (NYSE:OGS) Hits New 52-Week High – Here’s What Happened

Shares of ONE Gas, Inc. (NYSE:OGS) hit a new 52-week high during trading on Monday . The company traded as high as $78.46 and last traded at $78.46, with a volume of 528 shares traded. The stock had previously closed at $77.87.

Analyst Upgrades and Downgrades

OGS has been the topic of a number of research reports. StockNews.com cut ONE Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their target price on shares of 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, Wells Fargo & Company dropped their price target on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, ONE Gas currently has a consensus rating of “Hold” and a consensus price target of $68.10.

ONE Gas Stock Performance

The stock’s 50 day simple moving average is $73.76 and its two-hundred day simple moving average is $68.40. The company has a market capitalization of $4.36 billion, a P/E ratio of 20.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37.

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

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a yield of 3.43%. ONE Gas’s payout ratio is presently 68.75%.

Institutional Trading of ONE Gas

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in shares of ONE Gas by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock valued at $258,283,000 after purchasing an additional 645,566 shares during the period. Verition Fund Management LLC increased its holdings in ONE Gas by 320.2% in the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock valued at $29,980,000 after purchasing an additional 306,974 shares during the last quarter. American Century Companies Inc. lifted its stake in ONE Gas by 6.3% in the second quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock valued at $293,590,000 after buying an additional 272,923 shares during the period. International Assets Investment Management LLC boosted its holdings in ONE Gas by 9,036.9% during the third quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock worth $15,061,000 after buying an additional 200,168 shares during the last quarter. Finally, Earnest Partners LLC acquired a new position in shares of ONE Gas during the 2nd quarter worth about $12,594,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.