ONE Gas, Inc. (NYSE:OGS) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in ONE Gas, Inc. (NYSE:OGS) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 639,026 shares of the utilities provider’s stock after selling 61,572 shares during the period. Bank of New York Mellon Corp owned about 1.13% of ONE Gas worth $44,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Crossmark Global Holdings Inc. increased its stake in shares of ONE Gas by 4.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,734 shares of the utilities provider’s stock worth $278,000 after buying an additional 159 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of ONE Gas by 42.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider’s stock worth $53,000 after buying an additional 210 shares during the last quarter. Transcendent Capital Group LLC increased its stake in shares of ONE Gas by 266.0% in the third quarter. Transcendent Capital Group LLC now owns 366 shares of the utilities provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. UMB Bank n.a. increased its stake in shares of ONE Gas by 3,620.0% in the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock worth $26,000 after buying an additional 362 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of ONE Gas by 7.4% in the third quarter. State of Alaska Department of Revenue now owns 6,438 shares of the utilities provider’s stock worth $479,000 after buying an additional 445 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

ONE Gas Stock Performance

Shares of OGS opened at $72.56 on Friday. ONE Gas, Inc. has a 1 year low of $58.31 and a 1 year high of $78.89. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.37 and a current ratio of 0.64. The firm has a fifty day moving average of $71.12 and a 200-day moving average of $71.94.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $973.58 million. As a group, equities analysts anticipate that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

ONE Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.67 per share. This is a boost from ONE Gas’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, February 21st. ONE Gas’s payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OGS shares. Stifel Nicolaus lifted their price target on shares of ONE Gas from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. LADENBURG THALM/SH SH downgraded shares of ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 price objective for the company. in a report on Friday, December 6th. Bank of America started coverage on shares of ONE Gas in a report on Friday, December 13th. They issued a “buy” rating and a $77.00 price objective for the company. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Jefferies Financial Group decreased their price objective on shares of ONE Gas from $79.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.31.

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.