Morgan Stanley Raises ONE Gas (NYSE:OGS) Price Target to $69.00

ONE Gas (NYSE:OGS) had its price target lifted by analysts at Morgan Stanley from $63.00 to $69.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 6.38% from the company’s previous close.

A number of other analysts have also weighed in on OGS. Mizuho upped their target price on shares of ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, Wells Fargo & Company raised shares of ONE Gas from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $71.00 to $80.00 in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $66.21.

ONE Gas Stock Performance

Shares of OGS stock opened at $73.70 on Wednesday. The firm has a 50 day moving average of $69.54 and a two-hundred day moving average of $65.26. The stock has a market capitalization of $4.17 billion, a PE ratio of 18.20, a P/E/G ratio of 3.87 and a beta of 0.66. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76. ONE Gas has a 52 week low of $55.50 and a 52 week high of $74.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of ONE Gas by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 817,199 shares of the utilities provider’s stock worth $52,073,000 after purchasing an additional 47,320 shares during the last quarter. Quadrant Capital Group LLC grew its stake in 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 buying an additional 334 shares during the last quarter. Norges Bank purchased a new position in ONE Gas during the 4th quarter worth approximately $30,395,000. Corient Private Wealth LLC lifted its stake in ONE Gas by 18.4% in the fourth quarter. Corient Private Wealth LLC now owns 8,126 shares of the utilities provider’s stock valued at $518,000 after buying an additional 1,263 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in ONE Gas in the fourth quarter valued at approximately $1,303,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.