ONE Gas Inc (OGS) Stake Lifted by Martingale Asset Management L P
Martingale Asset Management L P lifted its holdings in ONE Gas Inc (NYSE:OGS) by 18.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,819 shares of the utilities provider’s stock after purchasing an additional 15,197 shares during the quarter. Martingale Asset Management L P owned 0.18% of ONE Gas worth $7,162,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its position in ONE Gas by 185.2% during the fourth quarter. Millennium Management LLC now owns 20,107 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 13,057 shares during the period. Albert D Mason Inc. boosted its position in ONE Gas by 17.1% during the first quarter. Albert D Mason Inc. now owns 13,600 shares of the utilities provider’s stock valued at $898,000 after buying an additional 1,990 shares during the period. Wells Fargo & Company MN boosted its position in ONE Gas by 82.3% during the first quarter. Wells Fargo & Company MN now owns 178,629 shares of the utilities provider’s stock valued at $11,793,000 after buying an additional 80,651 shares during the period. Duff & Phelps Investment Management Co. boosted its position in ONE Gas by 13.5% during the first quarter. Duff & Phelps Investment Management Co. now owns 613,570 shares of the utilities provider’s stock valued at $40,508,000 after buying an additional 73,165 shares during the period. Finally, Mackay Shields LLC purchased a new stake in ONE Gas during the first quarter valued at about $386,000. 74.78% of the stock is owned by institutional investors.
Several research firms have issued reports on OGS. Zacks Investment Research lowered shares of ONE Gas from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Jefferies Financial Group restated a “$75.39” rating and set a $67.00 price target on shares of ONE Gas in a research report on Wednesday, July 18th. Finally, Morgan Stanley upped their price target on shares of ONE Gas from $70.00 to $76.00 and gave the company an “underweight” rating in a research report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.40.
ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, July 30th. The utilities provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $292.52 million during the quarter, compared to the consensus estimate of $275.30 million. ONE Gas had a net margin of 10.80% and a return on equity of 8.85%. During the same period in the prior year, the firm posted $0.39 earnings per share. sell-side analysts predict that ONE Gas Inc will post 3.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Monday, August 13th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, August 10th. ONE Gas’s dividend payout ratio (DPR) is 62.37%.
About ONE Gas
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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