The Manufacturers Life Insurance Company Raises Holdings in ONE Gas, Inc. (NYSE:OGS)

The Manufacturers Life Insurance Company lifted its holdings in shares of ONE Gas, Inc. (NYSE:OGS) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,580 shares of the utilities provider’s stock after purchasing an additional 1,032 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of ONE Gas worth $4,379,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OGS. Energy Income Partners LLC increased its stake in shares of ONE Gas by 52.9% during the 1st quarter. Energy Income Partners LLC now owns 1,058,680 shares of the utilities provider’s stock worth $68,317,000 after purchasing an additional 366,363 shares in the last quarter. American Century Companies Inc. increased its stake in shares of ONE Gas by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 4,598,114 shares of the utilities provider’s stock worth $293,590,000 after purchasing an additional 272,923 shares in the last quarter. Zimmer Partners LP purchased a new position in shares of ONE Gas during the 1st quarter worth approximately $16,939,000. Earnest Partners LLC purchased a new position in shares of ONE Gas during the 2nd quarter worth approximately $12,594,000. Finally, Jane Street Group LLC increased its stake in shares of ONE Gas by 283.6% during the 1st quarter. Jane Street Group LLC now owns 193,232 shares of the utilities provider’s stock worth $12,469,000 after purchasing an additional 142,865 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OGS has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of ONE Gas from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $80.00 in a research report on Wednesday, September 11th. Morgan Stanley raised their target price on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com lowered shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.21.

ONE Gas Stock Performance

NYSE:OGS opened at $72.05 on Tuesday. 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 firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 3.80 and a beta of 0.66. The firm’s fifty day simple moving average is $70.13 and its 200 day simple moving average is $65.85. ONE Gas, Inc. has a twelve month low of $55.50 and a twelve month high of $74.99.

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

ONE Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, August 14th. ONE Gas’s dividend payout ratio (DPR) is 65.19%.

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.