Capstone Asset Management Co. Raises Stake in ONE Gas, Inc. (OGS)
Capstone Asset Management Co. increased its stake in ONE Gas, Inc. (NYSE:OGS) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,152 shares of the utilities provider’s stock after buying an additional 40 shares during the period. Capstone Asset Management Co.’s holdings in ONE Gas were worth $290,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in ONE Gas by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the utilities provider’s stock worth $892,000 after buying an additional 300 shares during the last quarter. Affinity Wealth Management raised its position in shares of ONE Gas by 5.0% in the first quarter. Affinity Wealth Management now owns 5,159 shares of the utilities provider’s stock worth $349,000 after buying an additional 248 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of ONE Gas by 312.5% in the first quarter. Duff & Phelps Investment Management Co. now owns 197,095 shares of the utilities provider’s stock worth $13,324,000 after buying an additional 149,310 shares during the last quarter. James Investment Research Inc. bought a new position in shares of ONE Gas during the first quarter worth about $150,000. Finally, Russell Investments Group Ltd. raised its position in shares of ONE Gas by 169.7% in the first quarter. Russell Investments Group Ltd. now owns 124,625 shares of the utilities provider’s stock worth $8,421,000 after buying an additional 78,418 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.
ONE Gas, Inc. (NYSE OGS) traded down 0.20% during mid-day trading on Tuesday, hitting $74.42. 31,194 shares of the stock were exchanged. The company has a market capitalization of $3.89 billion, a PE ratio of 25.93 and a beta of 0.12. ONE Gas, Inc. has a 52 week low of $55.98 and a 52 week high of $74.72. The stock’s 50-day moving average is $71.62 and its 200 day moving average is $68.76.
ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.03. The company had revenue of $279.69 million during the quarter, compared to analysts’ expectations of $257.87 million. ONE Gas had a return on equity of 7.98% and a net margin of 10.12%. ONE Gas’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. On average, analysts anticipate that ONE Gas, Inc. will post $2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, August 10th. ONE Gas’s dividend payout ratio (DPR) is currently 58.54%.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, May 10th. BidaskClub raised shares of ONE Gas from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley upped their target price on shares of ONE Gas from $68.00 to $72.00 and gave the company an “underperform” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $65.67.
About ONE Gas
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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