Dai Ichi Life Insurance Company Ltd lowered its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,590 shares of the utilities provider’s stock after selling 4,231 shares during the period. Dai Ichi Life Insurance Company Ltd owned 0.10% of ONE Gas worth $3,741,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Independent Portfolio Consultants Inc. purchased a new stake in shares of ONE Gas during the 2nd quarter worth approximately $158,000. Heritage Trust Co increased its stake in shares of ONE Gas by 41.4% during the 2nd quarter. Heritage Trust Co now owns 2,323 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 680 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ONE Gas by 72.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,329 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 982 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of ONE Gas during the 2nd quarter worth approximately $200,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of ONE Gas during the 1st quarter worth approximately $202,000. Institutional investors own 73.16% of the company’s stock.
OGS has been the subject of several research analyst reports. BidaskClub upgraded shares of ONE Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Jefferies Group LLC restated a “sell” rating and set a $62.00 price target on shares of ONE Gas in a research note on Sunday. Zacks Investment Research upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Thursday, July 13th. Finally, Morgan Stanley raised their price target on shares of ONE Gas from $68.00 to $72.00 and gave the stock an “underperform” rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. ONE Gas presently has a consensus rating of “Hold” and a consensus target price of $66.17.
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ONE Gas, Inc. (OGS) opened at 75.73 on Tuesday. ONE Gas, Inc. has a 12-month low of $55.98 and a 12-month high of $76.06. The company has a market capitalization of $3.96 billion, a P/E ratio of 26.39 and a beta of 0.11. The company has a 50-day moving average of $74.21 and a 200 day moving average of $70.19.
ONE Gas (NYSE:OGS) last announced its earnings results on Monday, July 31st. The utilities provider reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.03. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. The business had revenue of $279.69 million for the quarter, compared to analysts’ expectations of $257.87 million. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Equities research analysts forecast that ONE Gas, Inc. will post $2.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. ONE Gas’s dividend payout ratio is currently 58.54%.
About ONE Gas
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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