Massachusetts Financial Services Co. MA Cuts Stock Position in ONE Gas, Inc. $OGS

Massachusetts Financial Services Co. MA cut its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 13.3% in the third quarter, HoldingsChannel.com reports. The fund owned 423,767 shares of the utilities provider’s stock after selling 64,963 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ONE Gas were worth $34,300,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of ONE Gas by 1,393.0% during the second quarter. Alliancebernstein L.P. now owns 1,597,487 shares of the utilities provider’s stock worth $114,795,000 after purchasing an additional 1,490,492 shares in the last quarter. Geode Capital Management LLC increased its stake in ONE Gas by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,478,961 shares of the utilities provider’s stock worth $106,290,000 after buying an additional 84,296 shares in the last quarter. Boston Trust Walden Corp increased its stake in ONE Gas by 1.7% during the 2nd quarter. Boston Trust Walden Corp now owns 1,070,858 shares of the utilities provider’s stock worth $76,952,000 after buying an additional 18,180 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ONE Gas by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 814,742 shares of the utilities provider’s stock valued at $58,547,000 after purchasing an additional 27,713 shares during the last quarter. Finally, Energy Income Partners LLC raised its position in shares of ONE Gas by 6.4% in the second quarter. Energy Income Partners LLC now owns 692,487 shares of the utilities provider’s stock valued at $49,762,000 after buying an additional 41,678 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Stock Performance

Shares of ONE Gas stock opened at $77.52 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.47 and a debt-to-equity ratio of 0.74. ONE Gas, Inc. has a 52 week low of $68.19 and a 52 week high of $83.96. The firm’s 50 day moving average is $78.92 and its two-hundred day moving average is $77.77. The firm has a market capitalization of $4.65 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.51 and a beta of 0.81.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $379.13 million for the quarter, compared to analyst estimates of $404.19 million. ONE Gas had a return on equity of 8.06% and a net margin of 10.76%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. Research analysts forecast that ONE Gas, Inc. will post 4.26 EPS for the current fiscal year.

ONE Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, February 20th. This is an increase from ONE Gas’s previous quarterly dividend of $0.67. ONE Gas’s payout ratio is currently 62.47%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OGS shares. UBS Group cut their target price on ONE Gas from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Weiss Ratings lowered shares of ONE Gas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 5th. Jefferies Financial Group increased their target price on shares of ONE Gas from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley reiterated an “underperform” rating and set a $73.00 price target on shares of ONE Gas in a research report on Wednesday. Finally, Mizuho boosted their target price on ONE Gas from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.57.

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.