Morgan Stanley Lowers ONE Gas (NYSE:OGS) Price Target to $83.00

ONE Gas (NYSE:OGS) had its target price lowered by Morgan Stanley from $85.00 to $83.00 in a research report sent to investors on Friday morning, AnalystRatings.com reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

OGS has been the topic of a number of other research reports. ValuEngine lowered ONE Gas from a buy rating to a hold rating in a report on Wednesday, October 2nd. UBS Group upgraded ONE Gas from a sell rating to a neutral rating and set a $90.00 price objective on the stock in a report on Tuesday, September 10th. Finally, Mizuho initiated coverage on ONE Gas in a report on Wednesday, October 16th. They issued a neutral rating and a $96.00 price objective on the stock. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of Hold and a consensus price target of $89.67.

Shares of NYSE:OGS traded down $1.35 during midday trading on Friday, reaching $86.32. 206,328 shares of the company’s stock traded hands, compared to its average volume of 203,160. ONE Gas has a 1 year low of $75.51 and a 1 year high of $96.66. The company has a market cap of $4.65 billion, a P/E ratio of 26.56, a PEG ratio of 4.14 and a beta of 0.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.40 and a current ratio of 0.57. The company has a fifty day simple moving average of $93.89 and a two-hundred day simple moving average of $90.91.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, October 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). ONE Gas had a net margin of 10.83% and a return on equity of 8.63%. The business had revenue of $248.56 million for the quarter, compared to analysts’ expectations of $254.15 million. During the same quarter last year, the business earned $0.31 EPS. As a group, research analysts forecast that ONE Gas will post 3.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 8th. ONE Gas’s dividend payout ratio (DPR) is presently 61.54%.

Institutional investors and hedge funds have recently modified their holdings of the business. 361 Capital LLC increased its stake in shares of ONE Gas by 18.5% in the 2nd quarter. 361 Capital LLC now owns 36,406 shares of the utilities provider’s stock worth $3,287,000 after acquiring an additional 5,678 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of ONE Gas by 8.6% in the 2nd quarter. WINTON GROUP Ltd now owns 257,609 shares of the utilities provider’s stock worth $23,262,000 after acquiring an additional 20,467 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of ONE Gas in the 2nd quarter worth $344,000. Ardevora Asset Management LLP increased its stake in shares of ONE Gas by 11.0% in the 3rd quarter. Ardevora Asset Management LLP now owns 480,300 shares of the utilities provider’s stock worth $46,162,000 after acquiring an additional 47,500 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of ONE Gas in the 2nd quarter worth $2,551,000. 75.50% of the stock is owned by institutional investors and hedge funds.

ONE Gas Company Profile

ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.

Further Reading: Momentum Indicator: Relative Strength Index

Receive News & Ratings for ONE Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONE Gas and related companies with MarketBeat.com's FREE daily email newsletter.