State of New Jersey Common Pension Fund D Trims Stock Position in ONE Gas, Inc. (NYSE:OGS)

State of New Jersey Common Pension Fund D lessened its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 32.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,324 shares of the utilities provider’s stock after selling 15,475 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of ONE Gas worth $2,064,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Quadrant Capital Group LLC raised its position in ONE Gas by 290.4% in the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 334 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of ONE Gas during the 2nd quarter worth $30,000. Jones Financial Companies Lllp grew its stake in shares of ONE Gas by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 337 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of ONE Gas by 147.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 479 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of ONE Gas during the 2nd quarter worth $64,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

ONE Gas Stock Down 0.1 %

OGS opened at $73.54 on Friday. The firm has a 50 day moving average price of $69.07 and a 200 day moving average price of $64.94. The company has a market cap of $4.16 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.71 and a beta of 0.66. ONE Gas, Inc. has a 1 year low of $55.50 and a 1 year high of $74.61. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.32 and a current ratio of 0.41.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data 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). ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The firm had revenue of $354.14 million during the quarter, compared to analyst estimates of $362.06 million. During the same period last year, the business earned $0.58 EPS. The firm’s revenue was down 11.0% compared to the same quarter last year. Sell-side analysts expect that ONE Gas, Inc. will post 3.84 earnings per share for the current year.

ONE Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, August 14th. ONE Gas’s dividend payout ratio (DPR) is 65.19%.

Analysts Set New Price Targets

OGS has been the topic of a number of research reports. Wells Fargo & Company raised shares of ONE Gas from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $71.00 to $80.00 in a research note on Wednesday, September 11th. StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Mizuho upped their target price on shares of ONE Gas from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Morgan Stanley reduced 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 report 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.com, the company currently has an average rating of “Hold” and a consensus 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.