ONE Gas, Inc. (NYSE:OGS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 42.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,711 shares of the utilities provider’s stock after selling 7,847 shares during the period. Federated Hermes Inc.’s holdings in ONE Gas were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its position in shares of ONE Gas by 21.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 174 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of ONE Gas by 6.1% during the first quarter. Tidal Investments LLC now owns 3,580 shares of the utilities provider’s stock valued at $228,000 after acquiring an additional 206 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of ONE Gas by 0.9% in the second quarter. Harbor Capital Advisors Inc. now owns 25,019 shares of the utilities provider’s stock valued at $1,597,000 after acquiring an additional 230 shares in the last quarter. GW Henssler & Associates Ltd. boosted its stake in shares of ONE Gas by 7.4% in the first quarter. GW Henssler & Associates Ltd. now owns 3,442 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 237 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in shares of ONE Gas by 1.8% during the second quarter. Linden Thomas Advisory Services LLC now owns 15,213 shares of the utilities provider’s stock worth $971,000 after purchasing an additional 270 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Price Performance

ONE Gas stock opened at $73.54 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $69.07 and a 200 day moving average price of $64.98. ONE Gas, Inc. has a 12-month low of $55.50 and a 12-month high of $74.61. The stock has a market cap of $4.16 billion, a P/E ratio of 18.16, a PEG ratio of 3.84 and a beta of 0.66.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $354.14 million for the quarter, compared to analysts’ expectations of $362.06 million. ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Sell-side analysts anticipate that ONE Gas, Inc. will post 3.84 earnings per share for the current year.

ONE Gas Dividend Announcement

The firm 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. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, August 14th. ONE Gas’s dividend payout ratio is presently 65.19%.

Analyst Upgrades and Downgrades

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

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.