ONE Gas (OGS) Price Target Cut to $70.00

ONE Gas (NYSE:OGS) had its price objective dropped by stock analysts at Morgan Stanley from $73.00 to $70.00 in a report released on Wednesday. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 0.06% from the stock’s previous close.

Several other equities research analysts also recently commented on OGS. Zacks Investment Research downgraded ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Jefferies Financial Group upgraded ONE Gas from an “underperform” rating to a “hold” rating in a report on Wednesday, April 25th. Wells Fargo & Co set a $69.00 price objective on ONE Gas and gave the company a “hold” rating in a report on Tuesday, February 13th. Finally, Bank of America restated an “underperform” rating on shares of ONE Gas in a report on Tuesday, February 27th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.80.

OGS stock traded down $0.23 during mid-day trading on Wednesday, reaching $69.96. The company’s stock had a trading volume of 887 shares, compared to its average volume of 193,732. The company has a market cap of $3.65 billion, a P/E ratio of 23.74, a PEG ratio of 3.92 and a beta of 0.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.59. ONE Gas has a 12 month low of $62.20 and a 12 month high of $79.51.

ONE Gas (NYSE:OGS) last issued its earnings results on Monday, April 30th. The utilities provider reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.24. The business had revenue of $638.46 million during the quarter, compared to the consensus estimate of $562.60 million. ONE Gas had a return on equity of 8.96% and a net margin of 10.90%. During the same period in the previous year, the company posted $1.44 earnings per share. research analysts predict that ONE Gas will post 3.12 earnings per share for the current year.

In other news, Director Michael G. Hutchinson acquired 700 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was purchased at an average price of $73.10 per share, for a total transaction of $51,170.00. Following the completion of the acquisition, the director now directly owns 8,630 shares in the company, valued at approximately $630,853. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.62% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can boosted its position in shares of ONE Gas by 2.4% during the first quarter. Great West Life Assurance Co. Can now owns 31,606 shares of the utilities provider’s stock valued at $2,087,000 after buying an additional 743 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of ONE Gas by 10.4% during the first quarter. Flinton Capital Management LLC now owns 8,330 shares of the utilities provider’s stock valued at $550,000 after buying an additional 782 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of ONE Gas by 28.3% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,552 shares of the utilities provider’s stock valued at $260,000 after buying an additional 784 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of ONE Gas by 10.7% during the first quarter. Riverhead Capital Management LLC now owns 8,270 shares of the utilities provider’s stock valued at $546,000 after buying an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ONE Gas by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,593 shares of the utilities provider’s stock valued at $263,000 after buying an additional 1,125 shares during the last quarter. 74.15% of the stock is currently owned by institutional investors.

ONE Gas Company Profile

ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.

Analyst Recommendations for ONE Gas (NYSE:OGS)

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