Oppenheimer Asset Management Inc. Grows Stock Holdings in ONE Gas, Inc. (NYSE:OGS)

Oppenheimer Asset Management Inc. grew its holdings in ONE Gas, Inc. (NYSE:OGS) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,615 shares of the utilities provider’s stock after acquiring an additional 187 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ONE Gas were worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OGS. Wellington Management Group LLP increased its holdings in ONE Gas by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock valued at $258,283,000 after purchasing an additional 645,566 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of ONE Gas by 320.2% in the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock valued at $29,980,000 after buying an additional 306,974 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of ONE Gas by 32.2% in the third quarter. Rockefeller Capital Management L.P. now owns 249,920 shares of the utilities provider’s stock valued at $18,599,000 after buying an additional 60,922 shares in the last quarter. Barclays PLC raised its holdings in shares of ONE Gas by 105.6% during the 3rd quarter. Barclays PLC now owns 105,607 shares of the utilities provider’s stock valued at $7,859,000 after buying an additional 54,237 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in ONE Gas by 234.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 60,976 shares of the utilities provider’s stock worth $4,539,000 after acquiring an additional 42,724 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

ONE Gas Price Performance

OGS opened at $76.00 on Tuesday. The company has a 50-day moving average of $70.90 and a 200-day moving average of $71.87. The company has a market capitalization of $4.55 billion, a P/E ratio of 19.44, a PEG ratio of 3.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. ONE Gas, Inc. has a 1-year low of $58.31 and a 1-year high of $78.89.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. Equities analysts expect that ONE Gas, Inc. will post 4.26 EPS for the current fiscal year.

ONE Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.67 per share. This is a positive change from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, February 21st. ONE Gas’s payout ratio is presently 68.54%.

Analysts Set New Price Targets

Several analysts have issued reports on OGS shares. Wells Fargo & Company lowered their price objective on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. LADENBURG THALM/SH SH lowered shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price target for the company. in a report on Friday, December 6th. Bank of America began coverage on shares of ONE Gas in a report on Friday, December 13th. They issued a “buy” rating and a $77.00 price objective on the stock. Stifel Nicolaus raised their target price on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group dropped their target price on ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.31.

ONE Gas 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.