Strategic Financial Concepts LLC Takes $1.33 Million Position in ONE Gas, Inc. (NYSE:OGS)

Strategic Financial Concepts LLC purchased a new position in shares of ONE Gas, Inc. (NYSE:OGS) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 19,252 shares of the utilities provider’s stock, valued at approximately $1,333,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OGS. Transcendent Capital Group LLC raised its holdings in ONE Gas by 266.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 266 shares during the period. UMB Bank n.a. increased its position in ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 362 shares during the period. Crews Bank & Trust acquired a new position in shares of ONE Gas during the 4th quarter worth approximately $35,000. Wilmington Savings Fund Society FSB bought a new position in shares of ONE Gas during the third quarter worth approximately $45,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of ONE Gas by 42.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock valued at $53,000 after buying an additional 210 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Price Performance

Shares of NYSE:OGS opened at $72.90 on Wednesday. The firm has a 50 day simple moving average of $70.04 and a 200 day simple moving average of $71.38. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.58 and a beta of 0.72. ONE Gas, Inc. has a one year low of $57.74 and a one year high of $78.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37.

ONE Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.68 dividend on an annualized basis and a yield of 3.68%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.66. ONE Gas’s payout ratio is currently 68.75%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OGS. Stifel Nicolaus raised their price objective on ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. LADENBURG THALM/SH SH cut ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price target on the stock. in a research report on Friday, December 6th. Jefferies Financial Group cut their price objective on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America initiated coverage on shares of 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, Wells Fargo & Company reduced their price target on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.31.

ONE Gas Profile

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.