ONE Gas, Inc. (NYSE:OGS) Shares Bought by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. increased its stake in ONE Gas, Inc. (NYSE:OGS) by 73.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,930 shares of the utilities provider’s stock after buying an additional 143,835 shares during the period. Duff & Phelps Investment Management Co.’s holdings in ONE Gas were worth $23,800,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Heritage Trust Co bought a new stake in shares of ONE Gas during the first quarter valued at approximately $111,000. James Investment Research Inc. bought a new stake in shares of ONE Gas during the first quarter valued at approximately $150,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ONE Gas by 72.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,329 shares of the utilities provider’s stock valued at $157,000 after buying an additional 982 shares during the last quarter. Independent Portfolio Consultants Inc. acquired a new stake in shares of ONE Gas during the second quarter valued at $158,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ONE Gas during the second quarter valued at $200,000. 72.58% of the stock is owned by institutional investors and hedge funds.
Shares of ONE Gas, Inc. (NYSE OGS) opened at 73.99 on Friday. The firm has a 50-day moving average of $71.51 and a 200 day moving average of $68.62. ONE Gas, Inc. has a 52 week low of $55.98 and a 52 week high of $74.72. The firm has a market cap of $3.87 billion, a PE ratio of 25.78 and a beta of 0.12.
ONE Gas (NYSE:OGS) last issued its earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $279.69 million for the quarter, compared to the consensus estimate of $257.87 million. ONE Gas had a return on equity of 7.98% and a net margin of 10.12%. ONE Gas’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts predict that ONE Gas, Inc. will post $2.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. ONE Gas’s dividend payout ratio is presently 58.54%.
Several analysts have weighed in on the stock. BidaskClub upgraded shares of ONE Gas from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Morgan Stanley lifted their price objective on shares of ONE Gas from $68.00 to $72.00 and gave the stock an “underperform” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.67.
About ONE Gas
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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