ONE Gas (NYSE:OGS) Stock Rating Upgraded by StockNews.com

ONE Gas (NYSE:OGS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other brokerages have also issued reports on OGS. Wells Fargo & Company lifted their target price on shares of ONE Gas from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.30.

ONE Gas Stock Performance

OGS stock traded up $0.62 during midday trading on Tuesday, hitting $70.59. 579,727 shares of the stock traded hands, compared to its average volume of 402,878. The firm has a market cap of $4.00 billion, a P/E ratio of 18.38, a PEG ratio of 3.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32. The stock’s fifty day simple moving average is $72.12 and its 200-day simple moving average is $67.24. ONE Gas has a 1-year low of $55.50 and a 1-year high of $74.99.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.07). ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The company had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. During the same quarter last year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts expect that ONE Gas will post 3.86 earnings per share for the current year.

Hedge Funds Weigh In On ONE Gas

Several hedge funds have recently added to or reduced their stakes in OGS. Transcendent Capital Group LLC lifted its position in ONE Gas by 266.0% during the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock valued at $27,000 after buying an additional 266 shares in the last quarter. Rothschild Investment LLC acquired a new position in ONE Gas during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its position in shares of ONE Gas by 150.4% during the second quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 349 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ONE Gas by 75.2% during the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 261 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of ONE Gas by 21.7% during the second quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 174 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

About ONE Gas

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.