ONE Gas, Inc. (NYSE:OGS) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd reduced its position in ONE Gas, Inc. (NYSE:OGS) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 43,323 shares of the utilities provider’s stock after selling 7,957 shares during the period. Magellan Asset Management Ltd’s holdings in ONE Gas were worth $3,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock worth $26,000 after buying an additional 362 shares in the last quarter. Crews Bank & Trust purchased a new stake in ONE Gas during the fourth quarter worth approximately $35,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ONE Gas during the 3rd quarter valued at about $45,000. Sound Income Strategies LLC purchased a new position in ONE Gas in the 4th quarter valued at about $51,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of ONE Gas by 42.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Analyst Ratings Changes

OGS has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on ONE Gas from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Stifel Nicolaus increased their price objective 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 began coverage on shares of ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 target price on the stock. StockNews.com upgraded shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. 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 report on Tuesday, January 28th. One equities 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. Based on data from MarketBeat.com, ONE Gas presently has an average rating of “Hold” and a consensus price target of $72.44.

ONE Gas Stock Up 0.4 %

Shares of ONE Gas stock opened at $76.51 on Thursday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.64 and a beta of 0.74. 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 stock’s 50-day moving average is $72.83 and its 200 day moving average is $72.65.

ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. The business had revenue of $630.70 million for the quarter, compared to analyst estimates of $973.58 million. Equities research analysts anticipate that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.50%. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, February 21st. ONE Gas’s payout ratio is presently 68.54%.

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.