Magellan Asset Management Ltd Has $3 Million Stake in ONE Gas, Inc. (NYSE:OGS)

Magellan Asset Management Ltd trimmed its stake in ONE Gas, Inc. (NYSE:OGS) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,323 shares of the utilities provider’s stock after selling 7,957 shares during the period. Magellan Asset Management Ltd owned about 0.08% of ONE Gas worth $3,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OGS. Captrust Financial Advisors lifted its holdings in shares of ONE Gas by 10.3% in the third quarter. Captrust Financial Advisors now owns 40,807 shares of the utilities provider’s stock valued at $3,037,000 after purchasing an additional 3,818 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of ONE Gas during the third quarter valued at about $1,524,000. Holocene Advisors LP raised its position in shares of ONE Gas by 45.9% in the third quarter. Holocene Advisors LP now owns 53,646 shares of the utilities provider’s stock worth $3,992,000 after buying an additional 16,873 shares in the last quarter. Stifel Financial Corp boosted its position in shares of ONE Gas by 12.1% during the 3rd quarter. Stifel Financial Corp now owns 13,659 shares of the utilities provider’s stock valued at $1,016,000 after acquiring an additional 1,469 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock valued at $258,283,000 after purchasing an additional 645,566 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price target on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on ONE Gas from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. StockNews.com raised ONE Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. LADENBURG THALM/SH SH raised shares of ONE Gas to a “hold” rating in a report on Monday, March 17th. Finally, Jefferies Financial Group lowered their price objective on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.44.

ONE Gas Trading Up 0.4 %

Shares of NYSE:OGS opened at $76.51 on Thursday. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The business’s 50 day moving average price is $72.83 and its 200-day moving average price is $72.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37. ONE Gas, Inc. has a 1 year low of $58.31 and a 1 year high of $78.89.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The firm had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $973.58 million. On average, equities research analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.67 per share. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, February 21st. This represents a $2.68 annualized dividend and a yield of 3.50%. ONE Gas’s payout ratio is presently 68.54%.

About ONE Gas

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.