Wealth Enhancement Advisory Services LLC Acquires New Position in ONE Gas, Inc. (NYSE:OGS)

Wealth Enhancement Advisory Services LLC bought a new position in shares of ONE Gas, Inc. (NYSE:OGS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,493 shares of the utilities provider’s stock, valued at approximately $260,000.

A number of other hedge funds have also bought and sold shares of the stock. Rothschild Investment LLC acquired a new position in shares of ONE Gas in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of ONE Gas by 150.4% in the second quarter. EverSource Wealth Advisors LLC now owns 581 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 349 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ONE Gas by 75.2% during the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 261 shares during the period. Hexagon Capital Partners LLC boosted its position in ONE Gas by 21.7% in the second quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock valued at $62,000 after buying an additional 174 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in ONE Gas in the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.10.

ONE Gas Trading Up 2.3 %

NYSE:OGS opened at $75.01 on Tuesday. ONE Gas, Inc. has a 12-month low of $55.50 and a 12-month high of $75.37. The firm has a market cap of $4.25 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.78 and a beta of 0.67. The company has a current ratio of 0.50, a quick ratio of 0.32 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average price of $72.42 and a 200 day moving average price of $67.43.

ONE Gas (NYSE:OGS) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The business had revenue of $340.40 million during the quarter, compared to analyst estimates of $287.48 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that ONE Gas, Inc. will post 3.88 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, November 19th. ONE Gas’s dividend payout ratio (DPR) is presently 68.75%.

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.