Los Angeles Capital Management & Equity Research Inc. Has $4.43 Million Stake in ONE Gas Inc (OGS)
Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of ONE Gas Inc (NYSE:OGS) by 44.3% in the 1st quarter, HoldingsChannel reports. The fund owned 49,809 shares of the utilities provider’s stock after buying an additional 15,280 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in ONE Gas were worth $4,434,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in OGS. Ardevora Asset Management LLP acquired a new position in shares of ONE Gas during the 4th quarter worth about $34,395,000. Norges Bank acquired a new position in shares of ONE Gas during the 4th quarter worth about $30,453,000. Marshall Wace North America L.P. boosted its position in shares of ONE Gas by 905.6% during the 3rd quarter. Marshall Wace North America L.P. now owns 327,703 shares of the utilities provider’s stock worth $26,963,000 after acquiring an additional 295,116 shares in the last quarter. BlackRock Inc. boosted its position in shares of ONE Gas by 2.5% during the 4th quarter. BlackRock Inc. now owns 6,267,260 shares of the utilities provider’s stock worth $498,875,000 after acquiring an additional 152,104 shares in the last quarter. Finally, Scout Investments Inc. boosted its position in shares of ONE Gas by 35.0% during the 4th quarter. Scout Investments Inc. now owns 580,902 shares of the utilities provider’s stock worth $46,240,000 after acquiring an additional 150,730 shares in the last quarter. 76.08% of the stock is owned by institutional investors and hedge funds.
OGS has been the subject of several analyst reports. Zacks Investment Research cut ONE Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Morgan Stanley lowered their price objective on ONE Gas from $75.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday, February 12th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. ONE Gas presently has a consensus rating of “Hold” and a consensus price target of $76.67.
ONE Gas (NYSE:OGS) last announced its earnings results on Monday, April 29th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $625.25 million. ONE Gas had a return on equity of 8.56% and a net margin of 10.57%. During the same period in the prior year, the firm earned $1.72 EPS. As a group, research analysts forecast that ONE Gas Inc will post 3.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $0.50 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. ONE Gas’s dividend payout ratio (DPR) is presently 61.54%.
In related news, Director Eduardo A. Rodriguez sold 500 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $89.04, for a total value of $44,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.76% of the stock is owned by corporate insiders.
About ONE Gas
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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