ONE Gas, Inc. (NYSE:OGS) Shares Bought by M&T Bank Corp

M&T Bank Corp raised its holdings in ONE Gas, Inc. (NYSE:OGS) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,596 shares of the utilities provider’s stock after buying an additional 591 shares during the period. M&T Bank Corp’s holdings in ONE Gas were worth $491,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OGS. Barclays PLC boosted its holdings in ONE Gas by 105.6% in the third 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 during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of ONE Gas by 42.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock valued at $53,000 after buying an additional 210 shares during the period. Dean Investment Associates LLC boosted its stake in shares of ONE Gas by 16.6% in the 3rd quarter. Dean Investment Associates LLC now owns 79,703 shares of the utilities provider’s stock valued at $5,931,000 after buying an additional 11,368 shares during the period. Wellington Management Group LLP grew its position in shares of ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after buying an additional 645,566 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of ONE Gas by 12.1% during the third quarter. Stifel Financial Corp now owns 13,659 shares of the utilities provider’s stock worth $1,016,000 after buying an additional 1,469 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on OGS shares. LADENBURG THALM/SH SH downgraded shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price target for the company. in a research note on Friday, December 6th. Bank of America initiated coverage on shares of ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 price objective for the company. Morgan Stanley increased their target price on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company decreased their price target on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.69.

ONE Gas Price Performance

OGS stock opened at $70.50 on Wednesday. The business has a 50 day simple moving average of $73.83 and a 200-day simple moving average of $69.56. The company has a market capitalization of $3.99 billion, a P/E ratio of 18.36 and a beta of 0.70. ONE Gas, Inc. has a twelve month low of $57.74 and a twelve month high of $78.89. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85.

ONE Gas (NYSE:OGS) last issued 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 business had revenue of $340.40 million for the quarter, compared to analyst estimates of $287.48 million. ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that ONE Gas, Inc. will post 3.88 EPS for the current year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is presently 68.75%.

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.