Texas Permanent School Fund Corp Sells 6,955 Shares of ONE Gas, Inc. (NYSE:OGS)

Texas Permanent School Fund Corp trimmed its holdings in ONE Gas, Inc. (NYSE:OGS) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,505 shares of the utilities provider’s stock after selling 6,955 shares during the period. Texas Permanent School Fund Corp owned 0.07% of ONE Gas worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of ONE Gas by 290.4% in the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock valued at $29,000 after buying an additional 334 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of ONE Gas in the second quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its position in shares of ONE Gas by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock valued at $41,000 after buying an additional 337 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of ONE Gas by 147.8% in the first quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock valued at $52,000 after buying an additional 479 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of ONE Gas in the second quarter valued at approximately $64,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OGS shares. Mizuho lifted their price target on shares of ONE Gas from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Wells Fargo & Company upgraded shares of ONE Gas from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $71.00 to $80.00 in a research report on Wednesday, September 11th. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, Morgan Stanley lowered their price objective on shares of ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.64.

ONE Gas Stock Up 1.6 %

Shares of OGS opened at $73.81 on Tuesday. The firm has a 50 day simple moving average of $68.33 and a two-hundred day simple moving average of $64.63. The company has a market cap of $4.18 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.68 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. ONE Gas, Inc. has a one year low of $55.50 and a one year high of $75.78.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company 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%. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share. Research analysts forecast that ONE Gas, Inc. will post 3.84 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, August 14th. This represents a $2.64 annualized dividend and a dividend yield of 3.58%. ONE Gas’s dividend payout ratio (DPR) is presently 65.19%.

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.