Zacks Investment Research upgraded shares of ONE Gas, Inc. (NYSE:OGS) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $85.00 target price on the utilities provider’s stock.

According to Zacks, “ONE Gas, Inc. is a natural gas local distribution company. The company operates primarily in Oklahoma, Kansas and Texas through Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service. ONE Gas, Inc. is based in Tulsa, United States. “

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of ONE Gas from a hold rating to a buy rating in a research note on Tuesday, August 1st. UBS AG lowered shares of ONE Gas from a neutral rating to a sell rating and lifted their price target for the stock from $71.00 to $72.00 in a research note on Monday, October 2nd. Jefferies Group LLC reissued a sell rating and set a $62.00 price objective on shares of ONE Gas in a research report on Sunday, September 10th. Finally, Morgan Stanley lifted their target price on shares of ONE Gas from $68.00 to $72.00 and gave the company an underperform rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $68.83.

ONE Gas (OGS) traded down $0.85 during trading hours on Wednesday, hitting $75.90. 179,800 shares of the company were exchanged, compared to its average volume of 190,728. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.14 and a quick ratio of 0.73. The stock has a market cap of $3,920.00, a PE ratio of 25.67, a P/E/G ratio of 4.08 and a beta of 0.07. ONE Gas has a 1 year low of $56.89 and a 1 year high of $78.26.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.08. ONE Gas had a net margin of 10.42% and a return on equity of 8.22%. The business had revenue of $247.14 million for the quarter, compared to analyst estimates of $242.75 million. During the same period last year, the business earned $0.24 EPS. equities analysts predict that ONE Gas will post 3 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, November 10th. ONE Gas’s payout ratio is currently 56.38%.

Several large investors have recently bought and sold shares of OGS. OppenheimerFunds Inc. raised its position in shares of ONE Gas by 38.4% in the first quarter. OppenheimerFunds Inc. now owns 8,261 shares of the utilities provider’s stock valued at $558,000 after buying an additional 2,294 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of ONE Gas by 9.6% in the first quarter. Thrivent Financial For Lutherans now owns 9,850 shares of the utilities provider’s stock valued at $666,000 after buying an additional 860 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ONE Gas by 25.8% in the first quarter. Renaissance Technologies LLC now owns 62,500 shares of the utilities provider’s stock valued at $4,225,000 after buying an additional 12,800 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of ONE Gas by 0.8% in the first quarter. Public Employees Retirement System of Ohio now owns 12,850 shares of the utilities provider’s stock valued at $869,000 after buying an additional 104 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new position in shares of ONE Gas in the second quarter valued at approximately $158,000. 73.37% of the stock is owned by institutional investors and hedge funds.

ONE Gas Company Profile

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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