ONE Gas (NYSE:OGS) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of ONE Gas (NYSE:OGS) from an equal weight rating to an overweight rating in a report released on Wednesday, Marketbeat reports. Wells Fargo & Company currently has $80.00 target price on the utilities provider’s stock, up from their prior target price of $71.00.

Other equities analysts have also recently issued reports about the company. Mizuho lifted their target price on ONE Gas from $64.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. Morgan Stanley decreased their target price on shares of ONE Gas from $61.00 to $58.00 and set an equal weight rating for the company in a report on Monday, June 24th. Finally, StockNews.com lowered shares of ONE Gas from a hold rating to a sell rating in a report on Saturday, July 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $64.64.

ONE Gas Stock Performance

Shares of NYSE OGS opened at $72.66 on Wednesday. ONE Gas has a 12-month low of $55.50 and a 12-month high of $75.89. The company has a market cap of $4.12 billion, a PE ratio of 17.94, a P/E/G ratio of 3.68 and a beta of 0.66. The stock has a 50 day simple moving average of $68.10 and a 200-day simple moving average of $64.49. The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 0.76.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. The company had revenue of $354.14 million during the quarter, compared to analyst estimates of $362.06 million. During the same period in the prior year, the company posted $0.58 earnings per share. The company’s revenue was down 11.0% on a year-over-year basis. On average, equities research analysts forecast that ONE Gas will post 3.84 EPS for the current year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $2.64 annualized dividend and a yield of 3.63%. ONE Gas’s dividend payout ratio (DPR) is presently 65.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OGS. Quadrant Capital Group LLC lifted its position in shares of ONE Gas by 290.4% during the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 334 shares during the last quarter. Rothschild Investment LLC bought a new stake in ONE Gas in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC grew its position in ONE Gas by 150.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 349 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of ONE Gas by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 337 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in shares of ONE Gas by 147.8% during the first quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock valued at $52,000 after buying an additional 479 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.