Raymond James Financial Inc. Invests $2.35 Million in ONE Gas, Inc. (NYSE:OGS)

Raymond James Financial Inc. acquired a new stake in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,875 shares of the utilities provider's stock, valued at approximately $2,346,000. Raymond James Financial Inc. owned approximately 0.06% of ONE Gas at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OGS. UMB Bank n.a. boosted its holdings in ONE Gas by 3,620.0% during 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 in the last quarter. Crews Bank & Trust bought a new stake in shares of ONE Gas during the 4th quarter worth $35,000. Wilmington Savings Fund Society FSB acquired a new position in shares of ONE Gas in the 3rd quarter worth $45,000. Sound Income Strategies LLC acquired a new stake in shares of ONE Gas during the fourth quarter worth $51,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of ONE Gas by 42.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

ONE Gas Stock Up 0.4 %

Shares of NYSE:OGS traded up $0.30 during midday trading on Wednesday, hitting $76.51. 259,258 shares of the stock were exchanged, compared to its average volume of 401,841. The company has a market capitalization of $4.58 billion, a PE ratio of 19.57, a P/E/G ratio of 3.64 and a beta of 0.66. ONE Gas, Inc. has a 52-week low of $58.31 and a 52-week high of $78.89. 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 business's fifty day simple moving average is $72.83 and its two-hundred day simple moving average is $72.65.

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ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share for the quarter, hitting analysts' consensus estimates of $1.34. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. As a group, research analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.50%. This is an increase from ONE Gas's previous quarterly dividend of $0.66. The ex-dividend date was Friday, February 21st. ONE Gas's payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OGS. Morgan Stanley boosted their price objective on ONE Gas from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Stifel Nicolaus upped their price target on shares of ONE Gas from $73.00 to $74.00 and gave the company a "hold" rating in a research report on Friday, December 6th. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a research report on Monday, March 17th. Bank of America started coverage on ONE Gas in a report on Friday, December 13th. They issued a "buy" rating and a $77.00 target price for the company. Finally, Jefferies Financial Group lowered their price target on ONE Gas from $79.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $72.44.

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.