Corebridge Financial Inc. Sells 4,975 Shares of ONE Gas, Inc. (NYSE:OGS)

Corebridge Financial Inc. lessened its position in shares of ONE Gas, Inc. (NYSE:OGS) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,719 shares of the utilities provider’s stock after selling 4,975 shares during the period. Corebridge Financial Inc. owned approximately 0.16% of ONE Gas worth $6,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in ONE Gas by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 6,270,804 shares of the utilities provider’s stock valued at $434,253,000 after purchasing an additional 41,933 shares during the period. Wellington Management Group LLP lifted its holdings in shares of ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider’s stock worth $258,283,000 after buying an additional 645,566 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ONE Gas by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,354,710 shares of the utilities provider’s stock valued at $100,836,000 after acquiring an additional 18,477 shares during the period. Boston Trust Walden Corp grew its stake in shares of ONE Gas by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,058,507 shares of the utilities provider’s stock valued at $73,302,000 after acquiring an additional 9,302 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in ONE Gas by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,238 shares of the utilities provider’s stock worth $54,239,000 after acquiring an additional 24,860 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Stock Performance

NYSE OGS opened at $75.89 on Friday. The firm’s fifty day moving average price is $72.57 and its two-hundred day moving average price is $72.54. The stock has a market cap of $4.54 billion, a PE ratio of 19.41, a PEG ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. ONE Gas, Inc. has a fifty-two week low of $58.31 and a fifty-two week high of $78.89.

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

ONE Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 3.53%. ONE Gas’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Ratings Changes

OGS has been the topic of a number of analyst reports. Bank of America started coverage on shares of ONE Gas in a research report on Friday, December 13th. They set a “buy” rating and a $77.00 target price on the stock. Morgan Stanley raised their price objective on ONE Gas from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Stifel Nicolaus upped their target price on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Jefferies Financial Group decreased their price target on ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com raised ONE Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.44.

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.