Municipal Employees Retirement System of Michigan lowered its stake in shares of ONE Gas Inc (NYSE:OGS) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,810 shares of the utilities provider’s stock after selling 4,430 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in ONE Gas were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of ONE Gas by 5.1% in the 2nd quarter. State Street Corp now owns 1,824,509 shares of the utilities provider’s stock valued at $127,367,000 after acquiring an additional 88,740 shares during the period. Northern Trust Corp boosted its position in shares of ONE Gas by 13.1% during the 2nd quarter. Northern Trust Corp now owns 1,289,191 shares of the utilities provider’s stock worth $89,998,000 after purchasing an additional 149,153 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ONE Gas by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 716,527 shares of the utilities provider’s stock worth $50,021,000 after purchasing an additional 3,973 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ONE Gas by 41.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 692,197 shares of the utilities provider’s stock worth $48,322,000 after purchasing an additional 203,201 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of ONE Gas by 58.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 540,405 shares of the utilities provider’s stock worth $39,795,000 after purchasing an additional 199,475 shares in the last quarter. 72.78% of the stock is currently owned by institutional investors.
OGS has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of ONE Gas from $68.00 to $72.00 and gave the stock an “underperform” rating in a research report on Thursday, August 10th. UBS downgraded ONE Gas from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $71.00 to $72.00 in a research note on Monday, October 2nd. Zacks Investment Research raised shares of ONE Gas from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Wednesday, November 8th. Jefferies Group reissued a “sell” rating and issued a $62.00 target price on shares of ONE Gas in a research note on Sunday, September 10th. Finally, BidaskClub raised shares of ONE Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Three research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. ONE Gas currently has an average rating of “Hold” and an average price target of $70.60.
Shares of ONE Gas Inc (OGS) traded up $0.10 during trading hours on Thursday, hitting $77.45. The stock had a trading volume of 220,953 shares, compared to its average volume of 189,276. The stock has a market cap of $4,045.99, a PE ratio of 25.89, a P/E/G ratio of 4.09 and a beta of 0.11. ONE Gas Inc has a 1-year low of $60.75 and a 1-year high of $79.51. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.62.
ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.08. The firm had revenue of $247.14 million during the quarter, compared to analysts’ expectations of $242.75 million. ONE Gas had a return on equity of 8.22% and a net margin of 10.42%. During the same quarter in the prior year, the business earned $0.24 EPS. research analysts expect that ONE Gas Inc will post 3.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 13th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, November 10th. ONE Gas’s dividend payout ratio (DPR) is currently 56.19%.
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About ONE Gas
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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