Wells Fargo & Company Issues Pessimistic Forecast for ONE Gas (NYSE:OGS) Stock Price

ONE Gas (NYSE:OGS) had its target price reduced by stock analysts at Wells Fargo & Company from $82.00 to $81.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.97% from the stock’s current price.

Several other analysts also recently commented on the company. Morgan Stanley raised their price objective on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.10.

ONE Gas Trading Up 6.4 %

Shares of OGS stock traded up $4.49 during trading hours on Wednesday, reaching $75.02. The company had a trading volume of 58,233 shares, compared to its average volume of 401,115. The company has a 50 day moving average of $72.12 and a 200 day moving average of $67.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.63 and a beta of 0.67. ONE Gas has a 1-year low of $55.50 and a 1-year high of $75.23.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, equities research analysts anticipate that ONE Gas will post 3.86 EPS for the current year.

Institutional Investors Weigh In On ONE Gas

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in ONE Gas by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock valued at $293,590,000 after purchasing an additional 272,923 shares during the last quarter. Victory Capital Management Inc. lifted its position in ONE Gas by 0.7% during the second quarter. Victory Capital Management Inc. now owns 1,470,218 shares of the utilities provider’s stock worth $93,873,000 after acquiring an additional 10,189 shares during the last quarter. Energy Income Partners LLC lifted its position in ONE Gas by 52.9% during the first quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock worth $68,317,000 after acquiring an additional 366,363 shares during the last quarter. Boston Trust Walden Corp lifted its position in ONE Gas by 10.4% during the third quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock worth $78,082,000 after acquiring an additional 98,489 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in ONE Gas by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 897,568 shares of the utilities provider’s stock worth $57,308,000 after acquiring an additional 61,192 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.