KLP Kapitalforvaltning AS Makes New Investment in ONE Gas, Inc. (NYSE:OGS)

KLP Kapitalforvaltning AS purchased a new stake in ONE Gas, Inc. (NYSE:OGS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,100 shares of the utilities provider’s stock, valued at approximately $1,600,000.

A number of other institutional investors have also made changes to their positions in OGS. UMB Bank n.a. boosted its stake in ONE Gas by 3,620.0% during the 4th quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 362 shares during the period. Crews Bank & Trust bought a new position in ONE Gas in the 4th quarter worth approximately $35,000. Wilmington Savings Fund Society FSB acquired a new position in shares of ONE Gas during the third quarter worth approximately $45,000. Nomura Asset Management Co. Ltd. boosted its position in shares of ONE Gas by 42.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 210 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in shares of ONE Gas in the fourth quarter worth $51,000. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Price Performance

ONE Gas stock opened at $75.89 on Friday. ONE Gas, Inc. has a one year low of $58.31 and a one year high of $78.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37. The business has a 50 day simple moving average of $72.57 and a 200 day simple moving average of $72.54. The company has a market capitalization of $4.54 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66.

ONE Gas (NYSE:OGS) last announced its earnings results on Wednesday, February 19th. The utilities provider reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $630.70 million for the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. On average, sell-side analysts forecast that ONE Gas, Inc. will post 4.26 EPS for the current fiscal year.

ONE Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.67 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.53%. ONE Gas’s payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OGS shares. LADENBURG THALM/SH SH raised shares of ONE Gas to a “hold” rating in a report on Monday, March 17th. Stifel Nicolaus lifted their target price 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 company an “equal weight” rating in a report on Thursday, March 20th. Bank of America started coverage on ONE Gas in a report on Friday, December 13th. They set a “buy” rating and a $77.00 price objective on the stock. Finally, Jefferies Financial Group cut their target price on ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.44.

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.