Jefferies Financial Group Cuts ONE Gas (NYSE:OGS) Price Target to $76.00

ONE Gas (NYSE:OGS) had its price objective reduced by Jefferies Financial Group from $79.00 to $76.00 in a research report released on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on OGS. Bank of America began coverage on shares of ONE Gas in a research note on Friday, December 13th. They issued a “buy” rating and a $77.00 price target on the stock. LADENBURG THALM/SH SH lowered shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price target on the stock. in a research note on Friday, December 6th. Stifel Nicolaus lifted their price target 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. Wells Fargo & Company lowered their price objective on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, January 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.31.

ONE Gas Stock Up 2.0 %

ONE Gas stock opened at $70.46 on Tuesday. The company’s 50 day simple moving average is $71.40 and its 200 day simple moving average is $71.20. ONE Gas has a fifty-two week low of $57.74 and a fifty-two week high of $78.89. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 5.70 and a beta of 0.71. 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 (NYSE:OGS) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company had revenue of $340.40 million during the quarter, compared to the consensus estimate of $287.48 million. During the same period in the previous year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ONE Gas will post 3.89 EPS for the current year.

ONE Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.80%. This is an increase from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, February 21st. ONE Gas’s payout ratio is presently 68.75%.

Hedge Funds Weigh In On ONE Gas

Institutional investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC increased its holdings in ONE Gas by 266.0% during the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. UMB Bank n.a. increased its holdings 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 buying an additional 362 shares during the last quarter. Crews Bank & Trust acquired a new position in ONE Gas during the fourth quarter worth $35,000. Wilmington Savings Fund Society FSB acquired a new position in ONE Gas during the third quarter worth $45,000. Finally, GAMMA Investing LLC increased its holdings in 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 buying an additional 261 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Company 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.