The Manufacturers Life Insurance Company acquired a new stake in shares of ONE Gas, Inc. (NYSE:OGS – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 58,085 shares of the utilities provider’s stock, valued at approximately $4,477,000.
Several other large investors have also bought and sold shares of the company. Triumph Capital Management lifted its stake in shares of ONE Gas by 247.0% in the fourth quarter. Triumph Capital Management now owns 347 shares of the utilities provider’s stock worth $27,000 after buying an additional 247 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of ONE Gas during the fourth quarter valued at approximately $29,000. Quarry LP raised its holdings in ONE Gas by 188.0% in the 4th quarter. Quarry LP now owns 409 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 267 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in ONE Gas by 85.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 441 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 203 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in ONE Gas in the 3rd quarter valued at approximately $36,000. 88.71% of the stock is owned by hedge funds and other institutional investors.
ONE Gas Price Performance
NYSE OGS opened at $79.30 on Tuesday. ONE Gas, Inc. has a 52 week low of $74.06 and a 52 week high of $90.78. The firm has a market capitalization of $4.98 billion, a P/E ratio of 17.09, a PEG ratio of 2.19 and a beta of 0.66. The company has a quick ratio of 0.37, a current ratio of 0.48 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $79.25 and a 200-day moving average price of $82.62.
ONE Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.68 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.72 annualized dividend and a yield of 3.4%. ONE Gas’s dividend payout ratio (DPR) is presently 58.62%.
Analysts Set New Price Targets
Several brokerages have commented on OGS. Truist Financial cut their target price on ONE Gas from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Wolfe Research started coverage on ONE Gas in a research note on Tuesday, May 26th. They issued a “peer perform” rating for the company. Weiss Ratings downgraded ONE Gas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 10th. BTIG Research reaffirmed a “buy” rating and set a $96.00 price objective on shares of ONE Gas in a research report on Thursday, July 23rd. Finally, Mizuho reduced their price objective on ONE Gas from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Tuesday, June 9th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, ONE Gas has an average rating of “Moderate Buy” and an average price target of $89.23.
View Our Latest Research Report on OGS
About ONE Gas
ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.
The company’s service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.
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