Strs Ohio Raises Stake in ONE Gas Inc (NYSE:OGS)
Strs Ohio boosted its stake in ONE Gas Inc (NYSE:OGS) by 9.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,200 shares of the utilities provider’s stock after purchasing an additional 1,600 shares during the quarter. Strs Ohio’s holdings in ONE Gas were worth $1,479,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in OGS. AXA acquired a new stake in ONE Gas in the first quarter valued at $3,219,000. Rhumbline Advisers grew its position in shares of ONE Gas by 3.9% during the first quarter. Rhumbline Advisers now owns 182,735 shares of the utilities provider’s stock worth $15,280,000 after acquiring an additional 6,925 shares during the last quarter. State Street Corp grew its position in shares of ONE Gas by 2.0% during the first quarter. State Street Corp now owns 1,877,754 shares of the utilities provider’s stock worth $157,018,000 after acquiring an additional 36,284 shares during the last quarter. Legal & General Group Plc grew its position in ONE Gas by 4.0% in the 1st quarter. Legal & General Group Plc now owns 395,040 shares of the utilities provider’s stock valued at $33,033,000 after buying an additional 15,183 shares in the last quarter. Finally, Deutsche Bank AG grew its position in ONE Gas by 46.5% in the 1st quarter. Deutsche Bank AG now owns 78,341 shares of the utilities provider’s stock valued at $6,550,000 after buying an additional 24,849 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.
A number of equities research analysts have weighed in on the stock. BofA Securities raised shares of ONE Gas from an “underperform” rating to a “neutral” rating in a report on Thursday, July 23rd. Mizuho reduced their price target on shares of ONE Gas from $94.00 to $87.00 and set a “neutral” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on ONE Gas from $69.00 to $68.00 and set an “underweight” rating on the stock in a report on Friday, July 17th. Bank of America upgraded ONE Gas from an “underperform” rating to a “neutral” rating and set a $79.00 price objective on the stock in a report on Thursday, July 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded ONE Gas from a “hold” rating to a “sell” rating and set a $81.00 price objective on the stock. in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.11.
ONE Gas (NYSE:OGS) last announced its earnings results on Monday, July 27th. The utilities provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $273.29 million during the quarter, compared to analyst estimates of $274.48 million. ONE Gas had a return on equity of 8.62% and a net margin of 12.35%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts anticipate that ONE Gas Inc will post 3.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, August 13th. ONE Gas’s payout ratio is 61.54%.
ONE Gas Profile
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
Further Reading: What is Cost of Goods Sold (COGS)?
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