JPMorgan Chase & Co. grew its position in ONE Gas Inc (NYSE:OGS) by 69.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,332 shares of the utilities provider’s stock after purchasing an additional 33,715 shares during the quarter. JPMorgan Chase & Co.’s holdings in ONE Gas were worth $6,774,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in ONE Gas in the second quarter worth $142,000. Westbourne Investment Advisors Inc. purchased a new position in ONE Gas in the third quarter worth $169,000. Douglass Winthrop Advisors LLC purchased a new position in ONE Gas in the third quarter worth $203,000. JNBA Financial Advisors purchased a new position in ONE Gas in the third quarter worth $203,000. Finally, Edgemoor Investment Advisors Inc. purchased a new stake in shares of ONE Gas during the third quarter valued at $206,000. 74.98% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. UBS Group set a $78.00 price objective on shares of ONE Gas and gave the company a “sell” rating in a report on Friday. ValuEngine raised shares of ONE Gas from a “hold” rating to a “buy” rating in a report on Monday, October 8th. Wells Fargo & Co boosted their price objective on shares of ONE Gas from $78.00 to $84.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Bank of America boosted their price objective on shares of ONE Gas from $68.00 to $74.00 and gave the company an “underperform” rating in a report on Monday, October 29th. Finally, Morgan Stanley set a $76.00 price objective on shares of ONE Gas and gave the company a “sell” rating in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. ONE Gas has an average rating of “Hold” and an average price target of $77.00.
ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, October 29th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $238.28 million for the quarter, compared to analyst estimates of $250.60 million. ONE Gas had a net margin of 10.70% and a return on equity of 8.63%. During the same period in the previous year, the company earned $0.36 earnings per share. Sell-side analysts anticipate that ONE Gas Inc will post 3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Tuesday, November 13th were given a dividend of $0.46 per share. The ex-dividend date was Friday, November 9th. This represents a $1.84 dividend on an annualized basis and a yield of 2.12%. ONE Gas’s dividend payout ratio is presently 62.37%.
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.
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