Retirement Systems of Alabama Trims Stake in ONE Gas, Inc. (NYSE:OGS)

Retirement Systems of Alabama cut its position in shares of ONE Gas, Inc. (NYSE:OGS) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,822 shares of the utilities provider’s stock after selling 998 shares during the period. Retirement Systems of Alabama owned approximately 0.28% of ONE Gas worth $11,596,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC boosted its position in shares of 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 during the period. Rothschild Investment LLC purchased a new position in ONE Gas during the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its holdings in ONE Gas by 150.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 349 shares during the period. GAMMA Investing LLC grew its position in ONE Gas by 75.2% in the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 261 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in ONE Gas in the third quarter worth $45,000. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Stock Performance

Shares of OGS stock opened at $70.49 on Tuesday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 18.36 and a beta of 0.70. ONE Gas, Inc. has a 52-week low of $57.74 and a 52-week high of $78.89. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $73.86 and its 200 day moving average is $69.48.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $340.40 million during the quarter, compared to analysts’ expectations of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that ONE Gas, Inc. will post 3.88 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, November 19th. ONE Gas’s payout ratio is 68.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OGS. Stifel Nicolaus boosted their target price on shares of ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Jefferies Financial Group started coverage on shares of ONE Gas in a research report on Monday, December 9th. They issued a “hold” rating and a $79.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their price objective on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.69.

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.