Wells Fargo & Company Issues Pessimistic Forecast for ONE Gas (NYSE:OGS) Stock Price

ONE Gas (NYSE:OGS) had its target price dropped by analysts at Wells Fargo & Company from $82.00 to $81.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.97% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley boosted their price target on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ONE Gas has an average rating of “Hold” and an average target price of $68.10.

ONE Gas Stock Up 6.4 %

Shares of NYSE OGS traded up $4.49 during mid-day trading on Wednesday, reaching $75.02. The company had a trading volume of 58,233 shares, compared to its average volume of 401,115. ONE Gas has a twelve month low of $55.50 and a twelve month high of $75.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.32 and a current ratio of 0.41. The stock has a market capitalization of $4.25 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.63 and a beta of 0.67. The stock’s 50 day moving average is $72.12 and its 200-day moving average is $67.24.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. The company had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. During the same period last year, the company posted $0.45 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that ONE Gas will post 3.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONE Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 272,923 shares during the period. Victory Capital Management Inc. grew its stake in shares of ONE Gas by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,470,218 shares of the utilities provider’s stock valued at $93,873,000 after purchasing an additional 10,189 shares during the period. Energy Income Partners LLC grew its stake in shares of ONE Gas by 52.9% in the 1st quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock valued at $68,317,000 after purchasing an additional 366,363 shares during the period. Boston Trust Walden Corp grew its stake in shares of ONE Gas by 10.4% in the 3rd quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider’s stock valued at $78,082,000 after purchasing an additional 98,489 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of ONE Gas by 7.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 897,568 shares of the utilities provider’s stock valued at $57,308,000 after purchasing an additional 61,192 shares during the period. 88.71% of the stock is currently owned by institutional investors.

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.