ONE Gas (NYSE:OGS) Given New $69.00 Price Target at Morgan Stanley

ONE Gas (NYSE:OGS) had its target price lowered by Morgan Stanley from $74.00 to $69.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the company. LADENBURG THALM/SH SH raised ONE Gas to a “hold” rating in a research note on Friday, May 9th. Wall Street Zen raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Jefferies Financial Group upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and raised their price target for the stock from $76.00 to $84.00 in a report on Monday, April 7th. Guggenheim boosted their price objective on shares of ONE Gas from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on shares of ONE Gas from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average price target of $75.81.

ONE Gas Price Performance

Shares of NYSE OGS opened at $73.49 on Thursday. ONE Gas has a twelve month low of $58.31 and a twelve month high of $82.25. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $75.72 and a two-hundred day moving average of $73.46. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.64 and a beta of 0.86.

ONE Gas (NYSE:OGS) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.13. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. The business had revenue of $935.19 million for the quarter, compared to analysts’ expectations of $882.31 million. During the same period in the previous year, the firm posted $1.75 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, analysts expect that ONE Gas will post 4.26 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, May 19th. ONE Gas’s payout ratio is presently 64.73%.

Institutional Trading of ONE Gas

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of ONE Gas by 105.6% during the 3rd quarter. Barclays PLC now owns 105,607 shares of the utilities provider’s stock valued at $7,859,000 after purchasing an additional 54,237 shares in the last quarter. UMB Bank n.a. increased its position in ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock worth $26,000 after buying an additional 362 shares during the last quarter. Sound Income Strategies LLC bought a new position in ONE Gas during the fourth quarter valued at about $51,000. Exchange Traded Concepts LLC lifted its position in shares of ONE Gas by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 119,397 shares of the utilities provider’s stock worth $8,268,000 after buying an additional 904 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of ONE Gas by 46.6% during the 4th quarter. Blue Trust Inc. now owns 1,410 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 448 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

About ONE Gas

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.