Morgan Stanley Forecasts Strong Price Appreciation for ONE Gas (NYSE:OGS) Stock

ONE Gas (NYSE:OGS) had its price target increased by analysts at Morgan Stanley from $68.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential downside of 6.17% from the company’s current price.

Other research analysts have also issued research reports about the company. Bank of America initiated coverage on ONE Gas in a report on Friday, December 13th. They set a “buy” rating and a $77.00 price objective on the stock. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Stifel Nicolaus boosted their target price on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Jefferies Financial Group decreased 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. Finally, LADENBURG THALM/SH SH upgraded ONE Gas to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.44.

ONE Gas Stock Up 0.1 %

OGS stock traded up $0.11 during trading on Thursday, hitting $74.61. 22,766 shares of the company’s stock were exchanged, compared to its average volume of 374,073. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.64 and a beta of 0.66. ONE Gas has a 52-week low of $58.31 and a 52-week high of $78.89. The business has a 50-day moving average price of $72.07 and a two-hundred day moving average price of $72.34. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The company had revenue of $630.70 million for the quarter, compared to analyst estimates of $973.58 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. As a group, equities research analysts expect that ONE Gas will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in ONE Gas in the 3rd quarter valued at $3,135,000. Pathstone Holdings LLC lifted its stake in shares of ONE Gas by 113.5% in the 3rd quarter. Pathstone Holdings LLC now owns 22,681 shares of the utilities provider’s stock valued at $1,688,000 after purchasing an additional 12,060 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of ONE Gas in the 4th quarter valued at $203,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of ONE Gas by 234.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 60,976 shares of the utilities provider’s stock valued at $4,539,000 after purchasing an additional 42,724 shares during the period. Finally, KBC Group NV lifted its stake in shares of ONE Gas by 41.0% in the 4th quarter. KBC Group NV now owns 2,218 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 645 shares during the period. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Company 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.