KLP Kapitalforvaltning AS Takes Position in ONE Gas, Inc. (NYSE:OGS)

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

Several other hedge funds have also added to or reduced their stakes in OGS. Wellington Management Group LLP raised its holdings in ONE Gas by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after purchasing an additional 645,566 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of ONE Gas by 320.2% during the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider’s stock worth $29,980,000 after buying an additional 306,974 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in ONE Gas by 32.2% in the third quarter. Rockefeller Capital Management L.P. now owns 249,920 shares of the utilities provider’s stock valued at $18,599,000 after buying an additional 60,922 shares during the period. Barclays PLC boosted its stake in ONE Gas by 105.6% in the third quarter. Barclays PLC now owns 105,607 shares of the utilities provider’s stock valued at $7,859,000 after acquiring an additional 54,237 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in ONE Gas by 61.8% during the 4th quarter. First Eagle Investment Management LLC now owns 140,914 shares of the utilities provider’s stock worth $9,758,000 after acquiring an additional 53,800 shares during the period. Institutional investors own 88.71% of the company’s stock.

ONE Gas Price Performance

NYSE OGS opened at $75.89 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 3.64 and a beta of 0.66. The business has a 50 day simple moving average of $72.57 and a 200 day simple moving average of $72.54. ONE Gas, Inc. has a 52-week low of $58.31 and a 52-week high of $78.89.

ONE Gas (NYSE:OGS) last issued 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. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. Analysts anticipate that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OGS. Jefferies Financial Group cut their price target on ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus raised their target price on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Bank of America started coverage on ONE Gas in a research note on Friday, December 13th. They issued a “buy” rating and a $77.00 price target for the company. LADENBURG THALM/SH SH raised shares of ONE Gas to a “hold” rating in a research note on Monday, March 17th. Finally, Morgan Stanley upped their target price on shares of ONE Gas from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, ONE Gas has an average rating of “Hold” and an average 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.