Balyasny Asset Management LLC Sells 5,646 Shares of ONE Gas Inc (NYSE:OGS)
Balyasny Asset Management LLC lessened its stake in ONE Gas Inc (NYSE:OGS) by 50.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,479 shares of the utilities provider’s stock after selling 5,646 shares during the quarter. Balyasny Asset Management LLC’s holdings in ONE Gas were worth $422,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in ONE Gas by 49.3% during the first quarter. JPMorgan Chase & Co. now owns 511,152 shares of the utilities provider’s stock worth $42,743,000 after purchasing an additional 168,781 shares during the period. Principal Financial Group Inc. lifted its holdings in ONE Gas by 37.8% during the 2nd quarter. Principal Financial Group Inc. now owns 470,056 shares of the utilities provider’s stock valued at $36,217,000 after purchasing an additional 128,992 shares during the last quarter. First Trust Advisors LP boosted its position in ONE Gas by 23.6% during the second quarter. First Trust Advisors LP now owns 614,159 shares of the utilities provider’s stock worth $47,321,000 after purchasing an additional 117,312 shares during the period. Vident Investment Advisory LLC acquired a new stake in ONE Gas during the first quarter worth approximately $9,492,000. Finally, Beck Bode LLC acquired a new stake in ONE Gas during the 1st quarter worth approximately $7,500,000. 79.36% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jeffrey J. Husen sold 700 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $77.61, for a total transaction of $54,327.00. Following the sale, the insider now owns 1,748 shares in the company, valued at approximately $135,662.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.
ONE Gas (NYSE:OGS) last issued its earnings results on Monday, July 27th. The utilities provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. ONE Gas had a return on equity of 8.62% and a net margin of 12.35%. The firm had revenue of $273.29 million during the quarter, compared to the consensus estimate of $274.48 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. On average, research analysts forecast that ONE Gas Inc will post 3.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Thursday, August 13th. ONE Gas’s payout ratio is 61.54%.
OGS has been the subject of several analyst reports. Mizuho dropped their price objective on shares of ONE Gas from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. They noted that the move was a valuation call. UBS Group upgraded shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Thursday, August 20th. BofA Securities raised ONE Gas from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 23rd. Bank of America raised ONE Gas from an “underperform” rating to a “neutral” rating and set a $79.00 price objective for the company in a report on Thursday, July 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on ONE Gas from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. ONE Gas presently has a consensus rating of “Hold” and an average price target of $86.40.
ONE Gas Profile
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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