KLP Kapitalforvaltning AS Invests $1.60 Million in ONE Gas, Inc. (NYSE:OGS)

KLP Kapitalforvaltning AS purchased a new position in ONE Gas, Inc. (NYSE:OGS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,100 shares of the utilities provider's stock, valued at approximately $1,600,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGS. UMB Bank n.a. grew its position in shares of ONE Gas by 3,620.0% during the 4th 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 purchased a new stake in ONE Gas in the fourth quarter worth about $35,000. Wilmington Savings Fund Society FSB bought a new position in ONE Gas during the 3rd quarter worth about $45,000. Sound Income Strategies LLC purchased a new position in ONE Gas during the 4th quarter valued at about $51,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of ONE Gas by 42.0% in the 3rd 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 in the last quarter. Institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OGS. Morgan Stanley lifted their price objective on shares of ONE Gas from $68.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Bank of America assumed coverage on ONE Gas in a report on Friday, December 13th. They issued a "buy" rating and a $77.00 price target on the stock. StockNews.com upgraded ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Jefferies Financial Group cut their target price on ONE Gas from $79.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $72.44.

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ONE Gas Stock Up 0.4 %

ONE Gas stock traded up $0.30 during midday trading on Wednesday, reaching $76.51. The company's stock had a trading volume of 259,258 shares, compared to its average volume of 401,841. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37. The stock has a market capitalization of $4.58 billion, a P/E ratio of 19.57, a PEG ratio of 3.64 and a beta of 0.66. The stock's 50-day simple moving average is $72.83 and its 200-day simple moving average is $72.65. ONE Gas, Inc. has a 52-week low of $58.31 and a 52-week high of $78.89.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. On average, sell-side analysts expect that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from ONE Gas's previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.50%. ONE Gas's payout ratio is 68.54%.

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.