Magellan Asset Management Ltd Cuts Holdings in ONE Gas, Inc. $OGS

Magellan Asset Management Ltd reduced its position in shares of ONE Gas, Inc. (NYSE:OGS) by 2.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 40,567 shares of the utilities provider’s stock after selling 1,168 shares during the period. Magellan Asset Management Ltd’s holdings in ONE Gas were worth $2,915,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. raised its holdings in ONE Gas by 36.1% in the 2nd quarter. UMB Bank n.a. now owns 856 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 227 shares during the period. Hantz Financial Services Inc. grew its holdings in ONE Gas by 5,362.5% in the second quarter. Hantz Financial Services Inc. now owns 874 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 858 shares during the period. Parallel Advisors LLC increased its position in shares of ONE Gas by 20.1% in the second quarter. Parallel Advisors LLC now owns 910 shares of the utilities provider’s stock valued at $65,000 after buying an additional 152 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of ONE Gas during the 1st quarter worth approximately $76,000. Finally, Farther Finance Advisors LLC raised its stake in shares of ONE Gas by 34.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,080 shares of the utilities provider’s stock worth $78,000 after buying an additional 279 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OGS. Morgan Stanley reissued an “outperform” rating and issued a $72.00 price target on shares of ONE Gas in a research note on Wednesday, October 22nd. Mizuho raised shares of ONE Gas from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $77.00 to $86.00 in a report on Friday, September 26th. Jefferies Financial Group lifted their target price on shares of ONE Gas from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ONE Gas in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.69.

ONE Gas Stock Up 1.0%

Shares of OGS opened at $82.28 on Friday. The stock has a 50 day moving average price of $79.14 and a 200 day moving average price of $76.15. ONE Gas, Inc. has a one year low of $66.38 and a one year high of $83.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.42 and a current ratio of 0.47. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 3.22 and a beta of 0.85.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. ONE Gas had a return on equity of 8.06% and a net margin of 10.76%.The company had revenue of $379.13 million for the quarter, compared to analyst estimates of $404.19 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. Equities research analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, November 14th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. ONE Gas’s payout ratio is presently 62.47%.

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.