Envestnet Asset Management Inc. Raises Holdings in ONE Gas, Inc. (NYSE:OGS)

Envestnet Asset Management Inc. grew its position in shares of ONE Gas, Inc. (NYSE:OGS) by 128.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,900 shares of the utilities provider’s stock after purchasing an additional 83,636 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of ONE Gas worth $9,507,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in OGS. Rothschild Investment LLC acquired a new stake in shares of ONE Gas during the second quarter worth about $30,000. Jones Financial Companies Lllp lifted its holdings in shares of ONE Gas by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock valued at $41,000 after buying an additional 337 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of ONE Gas by 147.8% in the first quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock valued at $52,000 after buying an additional 479 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in ONE Gas during the second quarter worth $64,000. Finally, CWM LLC lifted its holdings in ONE Gas by 72.1% in the second quarter. CWM LLC now owns 1,432 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

ONE Gas Trading Up 0.7 %

Shares of OGS stock opened at $74.20 on Friday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.66. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76. ONE Gas, Inc. has a fifty-two week low of $55.50 and a fifty-two week high of $74.99. The firm’s 50 day moving average price is $69.54 and its two-hundred day moving average price is $65.26.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. On average, analysts anticipate that ONE Gas, Inc. will post 3.84 EPS for the current year.

ONE Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.56%. ONE Gas’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OGS. Morgan Stanley boosted their price objective on shares of ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday. Mizuho lifted their price objective on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Wells Fargo & Company raised shares of ONE Gas from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $71.00 to $80.00 in a research note on Wednesday, September 11th. Finally, StockNews.com cut shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.21.

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.