ClariVest Asset Management LLC Raises Position in ONE Gas, Inc. (OGS)
ClariVest Asset Management LLC increased its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 28.5% during the second quarter, Holdings Channel reports. The fund owned 50,100 shares of the utilities provider’s stock after buying an additional 11,100 shares during the period. ClariVest Asset Management LLC’s holdings in ONE Gas were worth $3,497,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its position in ONE Gas by 0.8% in the first quarter. World Asset Management Inc now owns 3,206 shares of the utilities provider’s stock valued at $217,000 after buying an additional 25 shares during the last quarter. US Bancorp DE boosted its position in ONE Gas by 0.4% in the second quarter. US Bancorp DE now owns 7,589 shares of the utilities provider’s stock valued at $530,000 after buying an additional 28 shares during the last quarter. Capstone Asset Management Co. boosted its position in ONE Gas by 1.0% in the second quarter. Capstone Asset Management Co. now owns 4,152 shares of the utilities provider’s stock valued at $290,000 after buying an additional 40 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in ONE Gas by 0.8% in the first quarter. Public Employees Retirement System of Ohio now owns 12,850 shares of the utilities provider’s stock valued at $869,000 after buying an additional 104 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in ONE Gas by 1.7% in the first quarter. Suntrust Banks Inc. now owns 6,160 shares of the utilities provider’s stock valued at $415,000 after buying an additional 105 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.
Shares of ONE Gas, Inc. (NYSE OGS) opened at 74.23 on Wednesday. The firm’s 50-day moving average is $71.72 and its 200-day moving average is $68.83. The stock has a market capitalization of $3.88 billion, a PE ratio of 25.86 and a beta of 0.12. ONE Gas, Inc. has a one year low of $55.98 and a one year high of $74.72.
ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by $0.03. ONE Gas had a return on equity of 7.98% and a net margin of 10.12%. The business had revenue of $279.69 million for the quarter, compared to analysts’ expectations of $257.87 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that ONE Gas, Inc. will post $2.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, August 10th. ONE Gas’s dividend payout ratio is presently 58.54%.
Several research firms have recently weighed in on OGS. BidaskClub raised shares of ONE Gas from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday, May 10th. Finally, Morgan Stanley upped their target price on shares of ONE Gas from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price 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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