Legato Capital Management LLC Reduces Stock Position in ONE Gas, Inc. (NYSE:OGS)

Legato Capital Management LLC trimmed its position in ONE Gas, Inc. (NYSE:OGS) by 65.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,823 shares of the utilities provider’s stock after selling 20,396 shares during the period. Legato Capital Management LLC’s holdings in ONE Gas were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGS. Empowered Funds LLC acquired a new position in shares of ONE Gas in the fourth quarter valued at approximately $369,000. Strategic Financial Concepts LLC acquired a new position in ONE Gas in the 4th quarter valued at $1,333,000. Boston Trust Walden Corp lifted its stake in shares of ONE Gas by 0.9% during the 4th quarter. Boston Trust Walden Corp now owns 1,058,507 shares of the utilities provider’s stock worth $73,302,000 after purchasing an additional 9,302 shares during the period. Crews Bank & Trust acquired a new stake in shares of ONE Gas during the fourth quarter worth $35,000. Finally, KBC Group NV grew its position in shares of ONE Gas by 41.0% in the fourth quarter. KBC Group NV now owns 2,218 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 645 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

ONE Gas Stock Performance

Shares of OGS stock opened at $72.27 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.09 billion, a PE ratio of 18.82, a P/E/G ratio of 3.58 and a beta of 0.72. The company’s fifty day simple moving average is $70.12 and its 200-day simple moving average is $71.33. ONE Gas, Inc. has a 52 week low of $57.74 and a 52 week high of $78.89.

ONE Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 3.71%. ONE Gas’s dividend payout ratio (DPR) is 68.75%.

Analyst Ratings Changes

Several research firms recently weighed in on OGS. LADENBURG THALM/SH SH downgraded ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a research report on Friday, December 6th. StockNews.com lowered shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, January 18th. Wells Fargo & Company dropped their price target on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Bank of America initiated coverage on shares of ONE Gas in a research note on Friday, December 13th. They set a “buy” rating and a $77.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.31.

ONE Gas Profile

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.