Victory Capital Management Inc. Reduces Stock Position in ONE Gas, Inc. (NYSE:OGS)

Victory Capital Management Inc. reduced its position in shares of ONE Gas, Inc. (NYSE:OGS) by 26.0% in the third quarter, HoldingsChannel.com reports. The firm owned 1,087,445 shares of the utilities provider’s stock after selling 382,773 shares during the period. Victory Capital Management Inc.’s holdings in ONE Gas were worth $80,928,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of ONE Gas by 6.3% during 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 during the period. Energy Income Partners LLC boosted its holdings in shares of ONE Gas by 52.9% during the first quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock worth $68,317,000 after purchasing an additional 366,363 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of 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 purchasing an additional 98,489 shares during the period. Dimensional Fund Advisors LP lifted its holdings in ONE Gas by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 897,568 shares of the utilities provider’s stock worth $57,308,000 after buying an additional 61,192 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in ONE Gas by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 792,440 shares of the utilities provider’s stock worth $50,597,000 after buying an additional 20,065 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on OGS shares. StockNews.com lowered shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company lowered their price objective on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.10.

ONE Gas Price Performance

Shares of NYSE OGS opened at $75.09 on Thursday. ONE Gas, Inc. has a fifty-two week low of $55.50 and a fifty-two week high of $76.34. The company has a 50 day simple moving average of $72.76 and a two-hundred day simple moving average of $67.63. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.37 and a current ratio of 0.50.

ONE Gas (NYSE:OGS) last announced its 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 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 period in the prior year, the business posted $0.45 EPS. ONE Gas’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts expect that ONE Gas, Inc. will post 3.88 EPS for the current fiscal year.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, November 19th. ONE Gas’s dividend payout ratio is 68.75%.

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.