Corebridge Financial Inc. lessened its holdings in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,719 shares of the utilities provider's stock after selling 4,975 shares during the quarter. Corebridge Financial Inc. owned approximately 0.16% of ONE Gas worth $6,352,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP boosted its position in ONE Gas by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,470,618 shares of the utilities provider's stock worth $258,283,000 after acquiring an additional 645,566 shares during the last quarter. Verition Fund Management LLC lifted its position in 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 buying an additional 306,974 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of ONE Gas by 32.2% during the 3rd 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 period. Barclays PLC boosted its position in shares of ONE Gas by 105.6% during the third quarter. Barclays PLC now owns 105,607 shares of the utilities provider's stock worth $7,859,000 after buying an additional 54,237 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of ONE Gas by 61.8% in the fourth quarter. First Eagle Investment Management LLC now owns 140,914 shares of the utilities provider's stock valued at $9,758,000 after buying an additional 53,800 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company's stock.
Wall Street Analysts Forecast Growth
OGS has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on ONE Gas from $79.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Bank of America initiated coverage on shares of ONE Gas in a research note on Friday, December 13th. They issued a "buy" rating and a $77.00 price objective for the company. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research note on Monday, March 17th. StockNews.com upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Morgan Stanley boosted their price target on shares of ONE Gas from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ONE Gas presently has a consensus rating of "Hold" and a consensus target price of $72.44.
View Our Latest Analysis on OGS
ONE Gas Stock Down 0.1 %
Shares of NYSE:OGS traded down $0.07 during trading hours on Wednesday, reaching $76.14. The stock had a trading volume of 43,358 shares, compared to its average volume of 426,553. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 3.64 and a beta of 0.66. The firm's 50 day moving average is $72.71 and its 200-day moving average is $72.62. ONE Gas, Inc. has a 1 year low of $58.31 and a 1 year 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.
ONE Gas (NYSE:OGS - Get Free Report) last posted its earnings results on Wednesday, February 19th. The utilities provider reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $630.70 million for the quarter, compared to analyst estimates of $973.58 million. ONE Gas had a return on equity of 7.70% and a net margin of 10.70%. 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 declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.52%. 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 dividend payout ratio is 68.54%.
About ONE Gas
(
Free Report)
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.
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