ONE Gas Inc. (OGS) Raised to “Hold” at Jefferies Group
ONE Gas Inc. (NYSE:OGS) was upgraded by stock analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $53.00 target price on the stock. Jefferies Group’s price target would indicate a potential downside of 12.56% from the company’s previous close.
Several other research firms have also weighed in on OGS. Zacks Investment Research upgraded ONE Gas from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, July 13th. BB&T Corp. began coverage on ONE Gas in a research note on Wednesday, June 22nd. They issued a “hold” rating on the stock. Finally, Wells Fargo & Co. began coverage on ONE Gas in a research note on Tuesday, August 30th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.00.
ONE Gas (NYSE:OGS) traded up 0.05% on Thursday, reaching $60.55. The company’s stock had a trading volume of 158,784 shares. The firm has a market capitalization of $3.16 billion, a PE ratio of 24.34 and a beta of 0.11. The stock’s 50 day moving average is $60.95 and its 200-day moving average is $61.59. ONE Gas has a 52 week low of $45.57 and a 52 week high of $67.35.
ONE Gas (NYSE:OGS) last posted its earnings results on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.07. ONE Gas had a return on equity of 7.12% and a net margin of 9.61%. The company had revenue of $245.92 million for the quarter, compared to analyst estimates of $289.73 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that ONE Gas will post $2.60 EPS for the current year.
In related news, Director Eduardo A. Rodriguez sold 1,325 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $60.96, for a total transaction of $80,772.00. Following the transaction, the director now directly owns 8,060 shares in the company, valued at $491,337.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.25% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of ONE Gas by 50.1% in the first quarter. Goldman Sachs Group Inc. now owns 206,384 shares of the company’s stock valued at $12,610,000 after buying an additional 68,916 shares in the last quarter. BlackRock Group LTD raised its position in shares of ONE Gas by 18.2% in the first quarter. BlackRock Group LTD now owns 61,857 shares of the company’s stock valued at $3,779,000 after buying an additional 9,545 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of ONE Gas by 4,445.1% in the second quarter. JPMorgan Chase & Co. now owns 60,722 shares of the company’s stock valued at $4,044,000 after buying an additional 59,386 shares in the last quarter. State Street Corp raised its position in shares of ONE Gas by 0.5% in the first quarter. State Street Corp now owns 1,717,404 shares of the company’s stock valued at $104,933,000 after buying an additional 8,601 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of ONE Gas by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,506,006 shares of the company’s stock valued at $92,017,000 after buying an additional 24,210 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.
About ONE Gas
ONE Gas, Inc is an independent natural gas utility in the United States. The Company is a natural gas distributor in Oklahoma, Kansas and Texas. The Company operates in one segment: regulated public utilities that deliver natural gas to residential, commercial, industrial and transportation customers.
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