Cable Hill Partners LLC Makes New Investment in ONE Gas, Inc. (NYSE:OGS)

Cable Hill Partners LLC bought a new position in shares of ONE Gas, Inc. (NYSE:OGS) during the third quarter, according to its most recent filing with the SEC. The fund bought 3,508 shares of the utilities provider’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in shares of ONE Gas in the first quarter valued at $575,000. Sei Investments Co. boosted its position in ONE Gas by 15.5% during the first quarter. Sei Investments Co. now owns 231,485 shares of the utilities provider’s stock worth $14,938,000 after purchasing an additional 31,046 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of ONE Gas by 341.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,314 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 1,790 shares in the last quarter. Connors Investor Services Inc. raised its position in shares of ONE Gas by 26.0% in the first quarter. Connors Investor Services Inc. now owns 44,307 shares of the utilities provider’s stock valued at $2,859,000 after purchasing an additional 9,134 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its stake in shares of ONE Gas by 19.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 140,595 shares of the utilities provider’s stock valued at $9,073,000 after buying an additional 23,253 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company decreased their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com lowered ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday. Two equities 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.10.

ONE Gas Price Performance

ONE Gas stock opened at $74.22 on Friday. The business has a 50-day simple moving average of $72.76 and a 200 day simple moving average of $67.63. ONE Gas, Inc. has a 52 week low of $55.50 and a 52 week high of $76.34. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 3.87 and a beta of 0.67. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85.

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

ONE Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, November 19th. ONE Gas’s dividend payout ratio is currently 68.75%.

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.