Lazard Asset Management LLC Reduces Stock Position in ONE Gas, Inc. $OGS

Lazard Asset Management LLC trimmed its position in ONE Gas, Inc. (NYSE:OGS) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,043 shares of the utilities provider’s stock after selling 27,807 shares during the period. Lazard Asset Management LLC’s holdings in ONE Gas were worth $1,899,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Inceptionr LLC purchased a new stake in shares of ONE Gas during the first quarter worth about $1,351,000. Sei Investments Co. grew its stake in ONE Gas by 26.0% in the 1st quarter. Sei Investments Co. now owns 79,565 shares of the utilities provider’s stock worth $6,853,000 after acquiring an additional 16,438 shares during the period. Cetera Investment Advisers grew its stake in ONE Gas by 1.1% in the 1st quarter. Cetera Investment Advisers now owns 19,653 shares of the utilities provider’s stock worth $1,693,000 after acquiring an additional 205 shares during the period. Magellan Asset Management Ltd raised its holdings in ONE Gas by 18.2% in the 1st quarter. Magellan Asset Management Ltd now owns 57,731 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 8,885 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in ONE Gas by 9.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,563 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 314 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGS has been the topic of a number of recent analyst reports. Wall Street Zen lowered ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. BTIG Research reiterated a “buy” rating and issued a $96.00 target price on shares of ONE Gas in a research note on Thursday, July 23rd. Wolfe Research began coverage on ONE Gas in a research report on Tuesday, May 26th. They set a “peer perform” rating on the stock. Truist Financial decreased their price target on ONE Gas from $95.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut ONE Gas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ONE Gas presently has a consensus rating of “Hold” and a consensus price target of $89.70.

ONE Gas Stock Performance

NYSE:OGS opened at $78.47 on Tuesday. The firm’s fifty day simple moving average is $78.22 and its 200 day simple moving average is $82.56. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 0.66. ONE Gas, Inc. has a twelve month low of $71.71 and a twelve month high of $90.78. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.56 and a beta of 0.66.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.02). ONE Gas had a net margin of 11.77% and a return on equity of 8.45%. The company had revenue of $831.71 million during the quarter, compared to analyst estimates of $969.36 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, equities research analysts expect that ONE Gas, Inc. will post 4.88 earnings per share for the current fiscal year.

ONE Gas Profile

ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company’s service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.