AlphaQuest LLC Takes $662,000 Position in ONE Gas, Inc. (NYSE:OGS)

AlphaQuest LLC acquired a new stake in ONE Gas, Inc. (NYSE:OGS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,556 shares of the utilities provider’s stock, valued at approximately $662,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in ONE Gas during the 3rd quarter worth approximately $260,000. Van ECK Associates Corp lifted its holdings in shares of ONE Gas by 7.3% during the third quarter. Van ECK Associates Corp now owns 15,482 shares of the utilities provider’s stock worth $1,142,000 after purchasing an additional 1,053 shares during the period. Atria Investments Inc grew its stake in shares of ONE Gas by 21.9% in the third quarter. Atria Investments Inc now owns 4,555 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 817 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in ONE Gas by 4.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,734 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 159 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in ONE Gas during the 3rd quarter worth $1,595,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OGS. Bank of America started coverage on ONE Gas in a research report on Friday, December 13th. They issued a “buy” rating and a $77.00 price target on the stock. LADENBURG THALM/SH SH lowered ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price objective on the stock. in a research note on Friday, December 6th. Jefferies Financial Group decreased their target price 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. Stifel Nicolaus boosted their price target on shares of ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, StockNews.com upgraded shares of ONE Gas from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.31.

ONE Gas Price Performance

ONE Gas stock opened at $73.60 on Wednesday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 3.64 and a beta of 0.66. ONE Gas, Inc. has a 52-week low of $58.31 and a 52-week high of $78.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The stock’s 50 day moving average price is $71.42 and its two-hundred day moving average price is $72.15.

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

ONE Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.64%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, February 21st. ONE Gas’s payout ratio is presently 68.54%.

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.