Van ECK Associates Corp Purchases 1,053 Shares of ONE Gas, Inc. (NYSE:OGS)

Van ECK Associates Corp boosted its holdings in ONE Gas, Inc. (NYSE:OGS) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,482 shares of the utilities provider’s stock after buying an additional 1,053 shares during the quarter. Van ECK Associates Corp’s holdings in ONE Gas were worth $1,142,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in ONE Gas by 21.7% during the second quarter. Hexagon Capital Partners LLC now owns 977 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 174 shares during the period. Tidal Investments LLC increased its stake in ONE Gas by 6.1% in the 1st quarter. Tidal Investments LLC now owns 3,580 shares of the utilities provider’s stock valued at $228,000 after buying an additional 206 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in ONE Gas by 0.9% during the second quarter. Harbor Capital Advisors Inc. now owns 25,019 shares of the utilities provider’s stock worth $1,597,000 after acquiring an additional 230 shares during the period. CWM LLC raised its stake in shares of ONE Gas by 17.3% during the 3rd quarter. CWM LLC now owns 1,680 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 248 shares during the period. Finally, GAMMA Investing LLC boosted its stake in ONE Gas by 75.2% in the third quarter. GAMMA Investing LLC now owns 608 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 261 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Price Performance

OGS stock opened at $75.01 on Tuesday. The company has a market cap of $4.25 billion, a P/E ratio of 19.53, a PEG ratio of 3.78 and a beta of 0.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.32. The firm has a 50-day moving average of $72.42 and a 200 day moving average of $67.43. ONE Gas, Inc. has a 1 year low of $55.50 and a 1 year high of $75.37.

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

ONE Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a yield of 3.52%. ONE Gas’s payout ratio is currently 68.75%.

Analyst Upgrades and Downgrades

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

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.