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

Victory Capital Management Inc. decreased its position in shares of ONE Gas, Inc. (NYSE:OGS) by 40.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,958 shares of the utilities provider’s stock after selling 439,487 shares during the quarter. Victory Capital Management Inc.’s holdings in ONE Gas were worth $44,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. boosted its position in ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 362 shares in the last quarter. Transcendent Capital Group LLC raised its stake in shares of ONE Gas by 266.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of ONE Gas during the 4th quarter worth $35,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ONE Gas in the 3rd quarter worth about $45,000. Finally, Sound Income Strategies LLC acquired a new stake in ONE Gas in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OGS. Bank of America assumed coverage on shares of ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 target price for the company. LADENBURG THALM/SH SH lowered ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a research note on Friday, December 6th. Stifel Nicolaus increased their target price on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com lowered ONE Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group dropped their price objective on ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.31.

ONE Gas Stock Performance

NYSE OGS opened at $74.59 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $4.47 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The business’s 50-day moving average price is $71.23 and its 200 day moving average price is $72.02. ONE Gas, Inc. has a twelve month low of $58.31 and a twelve month high of $78.89.

ONE Gas (NYSE:OGS) last released its earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $973.58 million. On average, research analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 3.59%. ONE Gas’s payout ratio is currently 68.54%.

ONE Gas 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.