ONE Gas, Inc. (NYSE:OGS) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in ONE Gas, Inc. (NYSE:OGS) by 21.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,139 shares of the utilities provider’s stock after selling 35,288 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned about 0.23% of ONE Gas worth $8,246,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OGS. Wellington Management Group LLP lifted its holdings in ONE Gas by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,555,206 shares of the utilities provider’s stock valued at $99,098,000 after acquiring an additional 52,740 shares during the period. Clearbridge Investments LLC lifted its stake in shares of ONE Gas by 37.7% in the fourth quarter. Clearbridge Investments LLC now owns 197,579 shares of the utilities provider’s stock valued at $12,590,000 after purchasing an additional 54,107 shares during the period. BNP Paribas Financial Markets boosted its holdings in ONE Gas by 127.8% during the first quarter. BNP Paribas Financial Markets now owns 86,764 shares of the utilities provider’s stock worth $5,599,000 after buying an additional 48,671 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in ONE Gas during the first quarter worth about $575,000. Finally, Sprinkle Financial Consultants LLC purchased a new position in ONE Gas in the fourth quarter valued at about $4,736,000. 88.71% of the stock is owned by institutional investors and hedge funds.

ONE Gas Stock Performance

NYSE OGS opened at $73.53 on Wednesday. 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, Inc. has a fifty-two week low of $55.50 and a fifty-two week high of $75.78. The business has a fifty day moving average of $68.54 and a 200-day moving average of $64.73. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.71 and a beta of 0.66.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The firm had revenue of $354.14 million during the quarter, compared to analyst estimates of $362.06 million. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, analysts predict that ONE Gas, Inc. will post 3.84 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were given a dividend of $0.66 per share. The ex-dividend date was Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a yield of 3.59%. ONE Gas’s dividend payout ratio (DPR) is currently 65.19%.

Analyst Upgrades and Downgrades

OGS has been the topic of several research analyst reports. StockNews.com lowered ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Wells Fargo & Company upgraded ONE Gas from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $80.00 in a research report on Wednesday, September 11th. Morgan Stanley dropped their price target on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, Mizuho boosted their price objective on shares of ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.64.

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.