M&T Bank Corp Grows Stock Position in ONE Gas, Inc. (NYSE:OGS)

M&T Bank Corp increased its position in shares of ONE Gas, Inc. (NYSE:OGS) by 9.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,596 shares of the utilities provider’s stock after purchasing an additional 591 shares during the quarter. M&T Bank Corp’s holdings in ONE Gas were worth $491,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in OGS. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 645,566 shares in the last quarter. Verition Fund Management LLC grew its stake in ONE Gas by 320.2% during the 3rd quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock valued at $29,980,000 after acquiring an additional 306,974 shares in the last quarter. American Century Companies Inc. raised its holdings in ONE Gas by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock valued at $293,590,000 after acquiring an additional 272,923 shares during the last quarter. International Assets Investment Management LLC lifted its stake in ONE Gas by 9,036.9% in the 3rd quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock worth $15,061,000 after purchasing an additional 200,168 shares in the last quarter. Finally, Earnest Partners LLC purchased a new position in ONE Gas in the 2nd quarter worth approximately $12,594,000. 88.71% of the stock is owned by institutional investors and hedge funds.

ONE Gas Stock Performance

Shares of OGS stock opened at $70.50 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.37 and a current ratio of 0.50. The firm has a market cap of $3.99 billion, a P/E ratio of 18.36 and a beta of 0.70. The firm’s 50 day moving average price is $73.83 and its 200-day moving average price is $69.56. ONE Gas, Inc. has a one year low of $57.74 and a one year high of $78.89.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The firm had revenue of $340.40 million for the quarter, compared to analyst estimates of $287.48 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that ONE Gas, Inc. will post 3.88 EPS for the current year.

ONE Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is 68.75%.

Analysts Set New Price Targets

OGS has been the topic of a number of analyst reports. Bank of America initiated coverage on ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 price objective on the stock. Morgan Stanley boosted their price target on shares of ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. LADENBURG THALM/SH SH cut shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price objective for the company. in a research report on Friday, December 6th. Jefferies Financial Group started coverage on shares of ONE Gas in a research note on Monday, December 9th. They set a “hold” rating and a $79.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on shares of ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $72.69.

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.