ONE Gas, Inc. (OGS) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of ONE Gas, Inc. (NYSE:OGS) from a hold rating to a buy rating in a research report sent to investors on Tuesday, August 1st.

OGS has been the subject of a number of other reports. Zacks Investment Research raised shares of ONE Gas from a hold rating to a buy rating and set a $77.00 price target for the company in a report on Wednesday, May 10th. Morgan Stanley upped their price target on shares of ONE Gas from $68.00 to $70.00 and gave the company an underweight rating in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $65.67.

ONE Gas (OGS) opened at 73.66 on Tuesday. The firm’s 50-day moving average is $72.04 and its 200-day moving average is $68.98. The firm has a market cap of $3.85 billion, a PE ratio of 25.67 and a beta of 0.12. ONE Gas has a 12 month low of $55.98 and a 12 month high of $74.84.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.03. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. The business had revenue of $279.69 million during the quarter, compared to analyst estimates of $257.87 million. During the same period in the previous year, the company posted $0.38 earnings per share. ONE Gas’s revenue was up 13.7% compared to the same quarter last year. Equities analysts expect that ONE Gas will post $2.98 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, August 10th. ONE Gas’s dividend payout ratio is presently 58.54%.

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its stake in ONE Gas by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 13,007 shares of the utilities provider’s stock worth $908,000 after buying an additional 157 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in ONE Gas by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 20,196 shares of the utilities provider’s stock worth $1,410,000 after buying an additional 295 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in ONE Gas by 3.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 69,414 shares of the utilities provider’s stock worth $4,846,000 after buying an additional 2,395 shares in the last quarter. 361 Capital LLC raised its stake in ONE Gas by 94.3% in the second quarter. 361 Capital LLC now owns 29,690 shares of the utilities provider’s stock worth $2,073,000 after buying an additional 14,411 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in ONE Gas by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 326,784 shares of the utilities provider’s stock worth $22,812,000 after buying an additional 984 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

About ONE Gas

ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.

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