The Manufacturers Life Insurance Company trimmed its holdings in ONE Gas Inc (NYSE:OGS) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,145 shares of the utilities provider’s stock after selling 3,849 shares during the period. The Manufacturers Life Insurance Company owned about 0.62% of ONE Gas worth $21,267,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of ONE Gas by 385.6% in the first quarter. Meeder Asset Management Inc. now owns 1,918 shares of the utilities provider’s stock valued at $127,000 after buying an additional 1,523 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of ONE Gas in the fourth quarter valued at $156,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of ONE Gas in the fourth quarter valued at $205,000. Zeke Capital Advisors LLC bought a new position in shares of ONE Gas in the fourth quarter valued at $238,000. Finally, Virtu Financial LLC bought a new position in shares of ONE Gas in the fourth quarter valued at $240,000. 74.14% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael G. Hutchinson bought 700 shares of the stock in a transaction dated Friday, May 25th. The stock was bought at an average price of $73.10 per share, for a total transaction of $51,170.00. Following the completion of the acquisition, the director now directly owns 8,630 shares in the company, valued at approximately $630,853. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.62% of the company’s stock.
Shares of OGS stock opened at $74.39 on Friday. The stock has a market capitalization of $3.87 billion, a PE ratio of 25.22, a PEG ratio of 4.16 and a beta of 0.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.53. ONE Gas Inc has a one year low of $62.20 and a one year high of $79.51.
ONE Gas (NYSE:OGS) last announced its earnings results on Monday, April 30th. The utilities provider reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.24. The company had revenue of $638.46 million during the quarter, compared to the consensus estimate of $562.60 million. ONE Gas had a net margin of 10.90% and a return on equity of 8.96%. During the same quarter in the prior year, the company posted $1.44 earnings per share. equities research analysts anticipate that ONE Gas Inc will post 3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $1.84 annualized dividend and a dividend yield of 2.47%. ONE Gas’s dividend payout ratio is currently 62.37%.
A number of research analysts have weighed in on OGS shares. Bank of America reaffirmed an “underperform” rating on shares of ONE Gas in a research note on Tuesday, February 27th. Jefferies Financial Group upgraded shares of ONE Gas from an “underperform” rating to a “hold” rating in a report on Wednesday, April 25th. Morgan Stanley increased their target price on shares of ONE Gas from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Monday, April 16th. Finally, Zacks Investment Research downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.80.
ONE Gas Company Profile
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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