Bank of Montreal Can Decreases Stake in ONE Gas, Inc. $OGS

Bank of Montreal Can cut its position in shares of ONE Gas, Inc. (NYSE:OGS) by 82.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 30,003 shares of the utilities provider’s stock after selling 140,180 shares during the period. Bank of Montreal Can’s holdings in ONE Gas were worth $2,156,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System raised its holdings in shares of ONE Gas by 5.9% during the 2nd quarter. State of Michigan Retirement System now owns 14,404 shares of the utilities provider’s stock worth $1,035,000 after acquiring an additional 800 shares in the last quarter. Amalgamated Bank increased its position in ONE Gas by 3.7% in the second quarter. Amalgamated Bank now owns 26,224 shares of the utilities provider’s stock worth $1,884,000 after purchasing an additional 944 shares during the last quarter. Atria Investments Inc raised its stake in ONE Gas by 18.5% during the second quarter. Atria Investments Inc now owns 6,760 shares of the utilities provider’s stock valued at $486,000 after purchasing an additional 1,054 shares in the last quarter. Retirement Systems of Alabama lifted its position in ONE Gas by 2.8% during the second quarter. Retirement Systems of Alabama now owns 160,249 shares of the utilities provider’s stock valued at $11,515,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of ONE Gas by 5,362.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 874 shares of the utilities provider’s stock worth $63,000 after buying an additional 858 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OGS shares. Jefferies Financial Group upped 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. Mizuho upgraded ONE Gas from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $77.00 to $86.00 in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONE Gas in a research note on Wednesday, October 8th. Finally, Morgan Stanley reiterated an “outperform” rating and issued a $72.00 target price on shares of ONE Gas in a report on Wednesday, October 22nd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.69.

ONE Gas Price Performance

Shares of OGS stock opened at $81.81 on Thursday. The stock has a 50 day moving average price of $79.49 and a 200 day moving average price of $76.21. ONE Gas, Inc. has a 52-week low of $66.38 and a 52-week high of $83.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.47. The firm has a market capitalization of $4.91 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.24 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 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $404.19 million. During the same quarter in the prior year, the company posted $0.34 EPS. ONE Gas’s quarterly revenue was up 11.4% on a year-over-year basis. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. As a group, sell-side analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. ONE Gas’s dividend payout ratio (DPR) is currently 62.47%.

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.