Magellan Asset Management Ltd Cuts Stake in ONE Gas, Inc. $OGS

Magellan Asset Management Ltd lessened its holdings in shares of ONE Gas, Inc. (NYSE:OGS) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,567 shares of the utilities provider’s stock after selling 1,168 shares during the period. Magellan Asset Management Ltd owned approximately 0.07% of ONE Gas worth $2,915,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OGS. Los Angeles Capital Management LLC acquired a new position in ONE Gas during the 2nd quarter valued at about $307,000. Fox Run Management L.L.C. acquired a new stake in ONE Gas in the second quarter worth about $544,000. Bank of New York Mellon Corp grew its stake in shares of ONE Gas by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 814,742 shares of the utilities provider’s stock worth $58,547,000 after acquiring an additional 27,713 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of ONE Gas by 5.9% during the second quarter. State of Michigan Retirement System now owns 14,404 shares of the utilities provider’s stock valued at $1,035,000 after acquiring an additional 800 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of ONE Gas by 3.7% during the second quarter. Amalgamated Bank now owns 26,224 shares of the utilities provider’s stock valued at $1,884,000 after acquiring an additional 944 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Stock Up 1.0%

NYSE:OGS opened at $82.28 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.47 and a quick ratio of 0.42. The company’s fifty day moving average price is $79.14 and its 200-day moving average price is $76.15. ONE Gas, Inc. has a 1-year low of $66.38 and a 1-year high of $83.39. The firm has a market capitalization of $4.94 billion, a P/E ratio of 19.18, a PEG ratio of 3.22 and a beta of 0.85.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $379.13 million for the quarter, compared to analyst estimates of $404.19 million. ONE Gas had a net margin of 10.76% and a return on equity of 8.06%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. As a group, equities research analysts anticipate that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, November 14th. ONE Gas’s dividend payout ratio (DPR) is currently 62.47%.

Analyst Ratings Changes

A number of analysts recently commented on OGS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of ONE Gas in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price target on shares of ONE Gas from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Mizuho raised shares of ONE Gas from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $77.00 to $86.00 in a report on Friday, September 26th. Finally, Morgan Stanley reissued an “outperform” rating and issued a $72.00 target price on shares of ONE Gas in a research report on Wednesday, October 22nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.69.

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.