New York State Common Retirement Fund cut its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 27.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,800 shares of the utilities provider’s stock after selling 21,355 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of ONE Gas worth $3,965,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of OGS. Independent Portfolio Consultants Inc. purchased a new position in shares of ONE Gas during the second quarter worth approximately $158,000. Heritage Trust Co increased its holdings in ONE Gas by 41.4% during the second quarter. Heritage Trust Co now owns 2,323 shares of the utilities provider’s stock valued at $162,000 after buying an additional 680 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ONE Gas by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,468 shares of the utilities provider’s stock valued at $172,000 after buying an additional 139 shares during the period. Janney Montgomery Scott LLC purchased a new position in ONE Gas during the second quarter valued at approximately $200,000. Finally, World Asset Management Inc increased its holdings in ONE Gas by 3.9% during the second quarter. World Asset Management Inc now owns 3,332 shares of the utilities provider’s stock valued at $233,000 after buying an additional 126 shares during the period. 73.08% of the stock is currently owned by institutional investors and hedge funds.
ONE Gas, Inc. (OGS) opened at 75.27 on Friday. The company’s 50-day moving average is $74.69 and its 200-day moving average is $72.08. ONE Gas, Inc. has a 52-week low of $56.64 and a 52-week high of $76.06. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.23 and a beta of 0.10.
ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $279.69 million for the quarter, compared to analyst estimates of $257.87 million. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Equities analysts predict that ONE Gas, Inc. will post $2.99 earnings per share for the current year.
Several equities research analysts have weighed in on the stock. BidaskClub upgraded shares of ONE Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of ONE Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Jefferies Group LLC reiterated a “sell” rating and set a $62.00 price objective on shares of ONE Gas in a research note on Sunday, September 10th. Morgan Stanley lifted their price objective 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. Finally, UBS AG cut shares of ONE Gas from a “neutral” rating to a “sell” rating and raised their target price for the stock from $71.00 to $72.00 in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. ONE Gas presently has a consensus rating of “Hold” and a consensus target price of $67.50.
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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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