Wells Fargo & Company Increases ONE Gas (NYSE:OGS) Price Target to $82.00

ONE Gas (NYSE:OGS) had its price target lifted by Wells Fargo & Company from $80.00 to $82.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Morgan Stanley increased their target price on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, ONE Gas currently has a consensus rating of “Hold” and an average price target of $66.92.

ONE Gas Stock Performance

Shares of NYSE:OGS opened at $74.76 on Wednesday. ONE Gas has a 1 year low of $55.50 and a 1 year high of $74.99. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 3.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32. The company’s 50 day simple moving average is $70.93 and its 200 day simple moving average is $66.42.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $354.14 million for the quarter, compared to analyst estimates of $362.06 million. ONE Gas had a return on equity of 8.04% and a net margin of 10.83%. ONE Gas’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, research analysts predict that ONE Gas will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ONE Gas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Energy Income Partners LLC increased its position in ONE Gas by 52.9% during the 1st quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock valued at $68,317,000 after purchasing an additional 366,363 shares during the period. American Century Companies Inc. increased its position in shares of ONE Gas by 6.3% during the second quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock worth $293,590,000 after buying an additional 272,923 shares during the period. Zimmer Partners LP bought a new position in ONE Gas during the first quarter worth $16,939,000. Earnest Partners LLC acquired a new position in ONE Gas in the second quarter valued at $12,594,000. Finally, Jane Street Group LLC boosted its position in ONE Gas by 283.6% during the first quarter. Jane Street Group LLC now owns 193,232 shares of the utilities provider’s stock valued at $12,469,000 after acquiring an additional 142,865 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.