Hennessy Advisors Inc. cut its stake in ONE Gas Inc (NYSE:OGS) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 389,675 shares of the utilities provider’s stock after selling 20,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in ONE Gas were worth $28,548,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of OGS. D.A. Davidson & CO. increased its holdings in ONE Gas by 1,953.3% in the second quarter. D.A. Davidson & CO. now owns 2,505 shares of the utilities provider’s stock valued at $174,000 after buying an additional 2,383 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ONE Gas in the second quarter valued at approximately $243,000. Shelton Capital Management acquired a new stake in shares of ONE Gas in the second quarter valued at approximately $272,000. M&T Bank Corp grew its position in shares of ONE Gas by 3.9% in the second quarter. M&T Bank Corp now owns 4,018 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 150 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of ONE Gas in the fourth quarter valued at approximately $285,000. 72.80% of the stock is owned by institutional investors.
OGS has been the topic of several research reports. UBS Group lowered shares of ONE Gas from a “neutral” rating to a “sell” rating and increased their price target for the company from $71.00 to $72.00 in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, November 8th. Jefferies Group reiterated a “sell” rating and issued a $63.00 price target on shares of ONE Gas in a research report on Wednesday, December 20th. Finally, Morgan Stanley increased their price target on shares of ONE Gas from $72.00 to $75.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $73.75.
ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. ONE Gas had a net margin of 10.42% and a return on equity of 8.22%. The business had revenue of $247.14 million for the quarter, compared to analyst estimates of $242.75 million. During the same period in the prior year, the business earned $0.24 earnings per share. sell-side analysts predict that ONE Gas Inc will post 3.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.65%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.42. ONE Gas’s dividend payout ratio (DPR) is 56.19%.
ONE Gas Profile
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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