Arrowstreet Capital Limited Partnership Buys New Position in ONE Gas Inc (OGS)
Arrowstreet Capital Limited Partnership bought a new position in shares of ONE Gas Inc (NYSE:OGS) during the fourth quarter, HoldingsChannel reports. The fund bought 59,756 shares of the utilities provider’s stock, valued at approximately $4,378,000.
Several other hedge funds have also recently added to or reduced their stakes in OGS. Assenagon Asset Management S.A. acquired a new position in ONE Gas in the fourth quarter valued at approximately $6,877,000. BlackRock Inc. boosted its holdings in ONE Gas by 1.2% in the fourth quarter. BlackRock Inc. now owns 5,672,511 shares of the utilities provider’s stock valued at $415,565,000 after purchasing an additional 67,227 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in ONE Gas in the fourth quarter valued at approximately $4,797,000. First Trust Advisors LP boosted its holdings in ONE Gas by 13.7% in the fourth quarter. First Trust Advisors LP now owns 379,858 shares of the utilities provider’s stock valued at $27,828,000 after purchasing an additional 45,649 shares in the last quarter. Finally, State of Tennessee Treasury Department acquired a new position in ONE Gas in the third quarter valued at approximately $2,209,000. Hedge funds and other institutional investors own 73.27% of the company’s stock.
OGS has been the subject of a number of research analyst reports. Zacks Investment Research raised ONE Gas from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Wednesday, November 8th. Wells Fargo & Co set a $69.00 price target on ONE Gas and gave the company a “hold” rating in a report on Tuesday, February 13th. Jefferies Group reaffirmed a “sell” rating and issued a $63.00 price target on shares of ONE Gas in a report on Wednesday, December 20th. Bank of America reaffirmed an “underperform” rating on shares of ONE Gas in a report on Tuesday, February 27th. Finally, Morgan Stanley lowered their price target on ONE Gas from $69.00 to $65.00 and set an “underweight” rating for the company in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.80.
ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.89 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. The business had revenue of $462.39 million during the quarter, compared to the consensus estimate of $445.30 million. ONE Gas had a return on equity of 10.16% and a net margin of 10.67%. During the same period in the prior year, the company earned $0.80 earnings per share. sell-side analysts predict that ONE Gas Inc will post 3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a $0.46 dividend. This is an increase from ONE Gas’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, February 22nd. ONE Gas’s dividend payout ratio is presently 58.97%.
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ONE Gas 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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