abrdn plc Reduces Stock Position in ONE Gas, Inc. (NYSE:OGS)

abrdn plc trimmed its holdings in ONE Gas, Inc. (NYSE:OGS - Free Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,083 shares of the utilities provider's stock after selling 68,322 shares during the period. abrdn plc owned about 0.46% of ONE Gas worth $17,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in ONE Gas by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider's stock valued at $258,283,000 after acquiring an additional 645,566 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of ONE Gas by 320.2% in the third quarter. Verition Fund Management LLC now owns 402,849 shares of the utilities provider's stock valued at $29,980,000 after purchasing an additional 306,974 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of ONE Gas by 9,036.9% during the third quarter. International Assets Investment Management LLC now owns 202,383 shares of the utilities provider's stock valued at $15,061,000 after purchasing an additional 200,168 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of ONE Gas by 10.4% during the third quarter. Boston Trust Walden Corp now owns 1,049,205 shares of the utilities provider's stock valued at $78,082,000 after purchasing an additional 98,489 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in ONE Gas by 32.2% during the third quarter. Rockefeller Capital Management L.P. now owns 249,920 shares of the utilities provider's stock worth $18,599,000 after purchasing an additional 60,922 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

ONE Gas Trading Down 0.6 %

Shares of OGS opened at $70.11 on Tuesday. The business's 50-day moving average price is $70.43 and its 200-day moving average price is $71.33. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. ONE Gas, Inc. has a twelve month low of $57.74 and a twelve month high of $78.89. The stock has a market cap of $3.97 billion, a PE ratio of 18.26, a P/E/G ratio of 3.58 and a beta of 0.72.

ONE Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from ONE Gas's previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 3.82%. ONE Gas's dividend payout ratio is currently 69.79%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America initiated coverage on ONE Gas in a research report on Friday, December 13th. They set a "buy" rating and a $77.00 price target for the company. Wells Fargo & Company lowered their target price 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. Stifel Nicolaus raised their price objective on shares of ONE Gas from $73.00 to $74.00 and gave the stock a "hold" rating in a report on Friday, December 6th. LADENBURG THALM/SH SH cut shares of ONE Gas from a "buy" rating to a "neutral" rating and set a $75.50 target price on the stock. in a research note on Friday, December 6th. Finally, StockNews.com lowered shares of ONE Gas from a "hold" rating to a "sell" rating in a research note on Saturday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, ONE Gas has an average rating of "Hold" and a consensus target price of $72.31.

ONE Gas Company 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.