Hennessy Advisors Inc. Boosts Position in ONE Gas Inc. (OGS)
Hennessy Advisors Inc. boosted its stake in shares of ONE Gas Inc. (NYSE:OGS) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 454,625 shares of the company’s stock after buying an additional 52,000 shares during the period. Hennessy Advisors Inc. owned 0.87% of ONE Gas worth $28,114,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of OGS. Pax World Management LLC increased its position in shares of ONE Gas by 107.0% in the second quarter. Pax World Management LLC now owns 166,975 shares of the company’s stock worth $11,119,000 after buying an additional 86,304 shares during the period. D L Carlson Investment Group Inc. increased its stake in shares of ONE Gas by 0.7% in the second quarter. D L Carlson Investment Group Inc. now owns 26,998 shares of the company’s stock worth $1,798,000 after buying an additional 188 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $4,044,000 after buying an additional 59,386 shares during the last quarter. Scout Investments Inc. increased its stake in shares of ONE Gas by 24.6% in the second quarter. Scout Investments Inc. now owns 296,339 shares of the company’s stock worth $19,733,000 after buying an additional 58,577 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of ONE Gas by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 7,382 shares of the company’s stock worth $492,000 after buying an additional 883 shares during the last quarter. Hedge funds and other institutional investors own 71.92% of the company’s stock.
Shares of ONE Gas Inc. (NYSE:OGS) traded up 0.21% during midday trading on Tuesday, reaching $62.07. The company’s stock had a trading volume of 29,784 shares. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 23.96 and a beta of 0.14. ONE Gas Inc. has a 52-week low of $45.89 and a 52-week high of $67.35. The stock has a 50-day moving average price of $59.72 and a 200-day moving average price of $61.70.
ONE Gas (NYSE:OGS) last issued its earnings results on Monday, October 31st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. ONE Gas had a return on equity of 7.36% and a net margin of 9.95%. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that ONE Gas Inc. will post $2.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, November 9th. ONE Gas’s dividend payout ratio is presently 54.26%.
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A number of equities research analysts have weighed in on OGS shares. Wells Fargo & Co. started coverage on ONE Gas in a report on Tuesday, August 30th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded ONE Gas from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Friday, September 2nd. Jefferies Group upgraded ONE Gas from an “underperform” rating to a “hold” rating and set a $53.00 target price for the company in a report on Thursday, October 13th. Finally, Seaport Global Securities started coverage on ONE Gas in a report on Friday, November 18th. They issued a “neutral” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. ONE Gas has an average rating of “Hold” and an average price target of $59.20.
In related news, Director Eduardo A. Rodriguez sold 1,325 shares of the 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 completion of the sale, the director now directly owns 8,060 shares in the company, valued at approximately $491,337.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.25% 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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