ONE Gas (NYSE:OGS) Price Target Cut to $76.00 by Analysts at Jefferies Financial Group

ONE Gas (NYSE:OGS) had its target price trimmed by Jefferies Financial Group from $79.00 to $76.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on OGS. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, January 18th. Bank of America assumed coverage on shares of ONE Gas in a research report on Friday, December 13th. They issued a “buy” rating and a $77.00 target price for the company. Wells Fargo & Company reduced their target price 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 cut shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price for the company. in a research report on Friday, December 6th. Finally, Stifel Nicolaus upped their price objective on shares of ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.31.

ONE Gas Price Performance

NYSE:OGS opened at $70.46 on Tuesday. ONE Gas has a one year low of $57.74 and a one year high of $78.89. The company has a market cap of $3.99 billion, a P/E ratio of 18.35, a P/E/G ratio of 5.70 and a beta of 0.71. The firm’s fifty day moving average price is $71.40 and its two-hundred day moving average price is $71.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $340.40 million during the quarter, compared to the consensus estimate of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts expect that ONE Gas will post 3.89 earnings per share for the current year.

ONE Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.67 per share. This is an increase from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, February 21st. This represents a $2.68 annualized dividend and a yield of 3.80%. ONE Gas’s payout ratio is presently 68.75%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OGS. Wellington Management Group LLP raised its stake in ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after acquiring an additional 645,566 shares in the last quarter. Verition Fund Management LLC raised its stake in ONE Gas by 320.2% during the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock worth $29,980,000 after acquiring an additional 306,974 shares in the last quarter. International Assets Investment Management LLC raised its stake in ONE Gas by 9,036.9% during the third quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock worth $15,061,000 after acquiring an additional 200,168 shares in the last quarter. Boston Trust Walden Corp raised its stake in ONE Gas by 10.4% during the third quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock worth $78,082,000 after acquiring an additional 98,489 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in ONE Gas by 32.2% during the third quarter. Rockefeller Capital Management L.P. now owns 249,920 shares of the utilities provider’s stock worth $18,599,000 after acquiring an additional 60,922 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.