Wealthfront Advisers LLC Takes Position in ONE Gas, Inc. (NYSE:OGS)

Wealthfront Advisers LLC purchased a new stake in shares of ONE Gas, Inc. (NYSE:OGS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,123 shares of the utilities provider’s stock, valued at approximately $1,601,000.

Several other hedge funds also recently modified their holdings of OGS. Atria Investments Inc increased its position in shares of ONE Gas by 21.9% during the 3rd quarter. Atria Investments Inc now owns 4,555 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 817 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of ONE Gas by 4.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,734 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 159 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of ONE Gas in the 3rd quarter worth $1,595,000. Cable Hill Partners LLC acquired a new position in shares of ONE Gas in the 3rd quarter worth $261,000. Finally, Connable Office Inc. acquired a new position in shares of ONE Gas in the 3rd quarter worth $474,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OGS. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH cut ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price on the stock. in a report on Friday, December 6th. Bank of America assumed coverage on ONE Gas in a research report on Friday, December 13th. They issued a “buy” rating and a $77.00 target price for the company. Finally, Stifel Nicolaus raised their target price on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.31.

ONE Gas Price Performance

OGS opened at $74.10 on Friday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 3.64 and a beta of 0.66. ONE Gas, Inc. has a 1 year low of $58.31 and a 1 year high of $78.89. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $71.67 and a 200 day moving average price of $72.19.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $973.58 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. Analysts forecast that ONE Gas, Inc. will post 4.26 EPS for the current fiscal year.

ONE Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.67 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.62%. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. ONE Gas’s payout ratio is currently 68.54%.

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.