Midwest Financial Group LLC Buys 1,775 Shares of ONE Gas, Inc. (NYSE:OGS)

Midwest Financial Group LLC grew its stake in ONE Gas, Inc. (NYSE:OGS) by 18.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,516 shares of the utilities provider’s stock after purchasing an additional 1,775 shares during the period. Midwest Financial Group LLC’s holdings in ONE Gas were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. raised its stake in shares of ONE Gas by 0.9% in the first quarter. BlackRock Inc. now owns 6,901,148 shares of the utilities provider’s stock valued at $546,778,000 after buying an additional 60,759 shares during the period. Vanguard Group Inc. raised its stake in shares of ONE Gas by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,402,167 shares of the utilities provider’s stock valued at $437,140,000 after buying an additional 27,831 shares during the period. State Street Corp raised its stake in shares of ONE Gas by 201.2% in the first quarter. State Street Corp now owns 6,266,661 shares of the utilities provider’s stock valued at $496,508,000 after buying an additional 4,186,102 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of ONE Gas by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,928,530 shares of the utilities provider’s stock valued at $146,029,000 after buying an additional 26,335 shares during the period. Finally, Morgan Stanley raised its stake in shares of ONE Gas by 2.6% in the third quarter. Morgan Stanley now owns 1,794,419 shares of the utilities provider’s stock valued at $122,523,000 after buying an additional 45,196 shares during the period. 88.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OGS. Wells Fargo & Company lifted their price target on ONE Gas from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Morgan Stanley lifted their price target on ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Finally, LADENBURG THALM/SH SH upgraded ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price target for the company in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average target price of $64.93.

ONE Gas Stock Down 0.5 %

Shares of ONE Gas stock traded down $0.35 on Friday, reaching $63.72. The company’s stock had a trading volume of 300,591 shares, compared to its average volume of 336,763. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 3.30 and a beta of 0.65. The firm’s fifty day simple moving average is $61.53 and its two-hundred day simple moving average is $62.85. ONE Gas, Inc. has a 52 week low of $55.50 and a 52 week high of $83.89. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78.

ONE Gas (NYSE:OGS) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $1.27 EPS for the quarter, hitting analysts’ consensus estimates of $1.27. The business had revenue of $605.90 million during the quarter, compared to analyst estimates of $751.77 million. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The company’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. Equities analysts anticipate that ONE Gas, Inc. will post 3.86 earnings per share for the current year.

ONE Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.66 per share. The ex-dividend date was Thursday, February 22nd. This is an increase from ONE Gas’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 4.14%. ONE Gas’s payout ratio is 63.77%.

ONE Gas Company Profile

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.