ONE Gas (NYSE:OGS) Given New $83.00 Price Target at Morgan Stanley

ONE Gas (NYSE:OGS) had its target price cut by Morgan Stanley from $85.00 to $83.00 in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have an underweight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of ONE Gas from a sell rating to a neutral rating and set a $90.00 price target on the stock in a research report on Tuesday, September 10th. ValuEngine cut shares of ONE Gas from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Mizuho began coverage on shares of ONE Gas in a research report on Wednesday, October 16th. They issued a neutral rating and a $96.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $89.67.

OGS traded down $1.35 during trading hours on Friday, hitting $86.32. The company’s stock had a trading volume of 206,328 shares, compared to its average volume of 203,160. The business’s 50-day moving average price is $93.89 and its 200-day moving average price is $90.91. ONE Gas has a 12 month low of $75.51 and a 12 month high of $96.66. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 4.14 and a beta of 0.26. The company has a current ratio of 0.57, a quick ratio of 0.40 and a debt-to-equity ratio of 0.61.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). ONE Gas had a return on equity of 8.63% and a net margin of 10.83%. The business had revenue of $248.56 million during the quarter, compared to the consensus estimate of $254.15 million. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, analysts forecast that ONE Gas will post 3.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 8th. ONE Gas’s dividend payout ratio (DPR) is 61.54%.

A number of hedge funds have recently bought and sold shares of the business. Barber Financial Group Inc. bought a new position in ONE Gas during the third quarter valued at $1,009,000. Catalyst Capital Advisors LLC bought a new position in ONE Gas during the third quarter valued at $415,000. SG Americas Securities LLC increased its position in ONE Gas by 2.4% during the third quarter. SG Americas Securities LLC now owns 7,210 shares of the utilities provider’s stock valued at $693,000 after acquiring an additional 167 shares during the last quarter. First Trust Advisors LP increased its position in ONE Gas by 18.4% during the third quarter. First Trust Advisors LP now owns 472,809 shares of the utilities provider’s stock valued at $45,442,000 after acquiring an additional 73,644 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in ONE Gas by 30.1% during the third quarter. Russell Investments Group Ltd. now owns 171,455 shares of the utilities provider’s stock valued at $16,466,000 after acquiring an additional 39,651 shares during the last quarter. Institutional investors and hedge funds own 75.50% of the company’s stock.

ONE Gas Company Profile

ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.

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