Wells Fargo & Company Cuts ONE Gas (NYSE:OGS) Price Target to $81.00

ONE Gas (NYSE:OGS) had its price target cut by Wells Fargo & Company from $82.00 to $81.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

OGS has been the subject of several other reports. StockNews.com raised ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley raised 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 research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, ONE Gas currently has an average rating of “Hold” and a consensus target price of $68.10.

ONE Gas Stock Performance

NYSE:OGS opened at $73.34 on Wednesday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 3.83 and a beta of 0.67. ONE Gas has a 1 year low of $55.50 and a 1 year high of $75.37. The stock’s 50 day simple moving average is $72.42 and its two-hundred day simple moving average is $67.41. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.32.

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

ONE Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is presently 68.75%.

Institutional Trading of ONE Gas

Several institutional investors and hedge funds have recently made changes to their positions in OGS. Energy Income Partners LLC grew its stake in 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 worth $68,317,000 after acquiring an additional 366,363 shares in the last quarter. American Century Companies Inc. grew its stake in ONE Gas by 6.3% in the second quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock worth $293,590,000 after purchasing an additional 272,923 shares in the last quarter. Zimmer Partners LP purchased a new position in ONE Gas during the 1st quarter worth $16,939,000. International Assets Investment Management LLC raised its position in ONE Gas by 9,036.9% during the 3rd quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider’s stock valued at $15,061,000 after purchasing an additional 200,168 shares in the last quarter. Finally, Earnest Partners LLC purchased a new stake in shares of ONE Gas in the 2nd quarter worth $12,594,000. 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.