JPMorgan Chase & Co. Decreases Stake in ONE Gas, Inc. $OGS

JPMorgan Chase & Co. lessened its stake in ONE Gas, Inc. (NYSE:OGS) by 50.6% in the second quarter, HoldingsChannel.com reports. The firm owned 411,043 shares of the utilities provider’s stock after selling 420,934 shares during the quarter. JPMorgan Chase & Co.’s holdings in ONE Gas were worth $29,538,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OGS. Entropy Technologies LP increased its holdings in ONE Gas by 435.7% in the second quarter. Entropy Technologies LP now owns 14,935 shares of the utilities provider’s stock valued at $1,073,000 after buying an additional 12,147 shares in the last quarter. Swiss National Bank increased its stake in ONE Gas by 4.2% in the 2nd quarter. Swiss National Bank now owns 114,413 shares of the utilities provider’s stock valued at $8,222,000 after purchasing an additional 4,600 shares in the last quarter. Greenland Capital Management LP increased its stake in ONE Gas by 1.5% in the 2nd quarter. Greenland Capital Management LP now owns 40,480 shares of the utilities provider’s stock valued at $2,909,000 after purchasing an additional 584 shares in the last quarter. Inspire Advisors LLC acquired a new position in ONE Gas during the second quarter worth $2,665,000. Finally, Creative Planning boosted its position in ONE Gas by 2.3% during the second quarter. Creative Planning now owns 32,510 shares of the utilities provider’s stock worth $2,336,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

ONE Gas Stock Performance

NYSE:OGS opened at $80.61 on Wednesday. The firm has a 50 day simple moving average of $81.35 and a 200-day simple moving average of $76.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.47 and a quick ratio of 0.33. The firm has a market cap of $4.84 billion, a PE ratio of 18.79, a P/E/G ratio of 3.06 and a beta of 0.79. ONE Gas, Inc. has a 1-year low of $66.38 and a 1-year high of $83.96.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, November 3rd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $379.13 million for the quarter, compared to analyst estimates of $404.19 million. ONE Gas had a net margin of 10.76% and a return on equity of 8.06%. ONE Gas’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. On average, equities analysts expect that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, November 14th. ONE Gas’s dividend payout ratio is presently 62.47%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of ONE Gas in a research report on Wednesday, October 8th. Jefferies Financial Group increased their price objective on shares of ONE Gas from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. UBS Group upgraded shares of ONE Gas from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $66.00 to $86.00 in a research report on Tuesday, November 18th. Mizuho upped their price target on shares of ONE Gas from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley reissued an “underperform” rating and set a $75.00 price objective on shares of ONE Gas in a research note on Thursday, November 20th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ONE Gas presently has an average rating of “Hold” and an average price target of $81.72.

ONE Gas Company Profile

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.