Magellan Asset Management Ltd Sells 7,957 Shares of ONE Gas, Inc. (NYSE:OGS)

Magellan Asset Management Ltd cut its holdings in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,323 shares of the utilities provider's stock after selling 7,957 shares during the period. Magellan Asset Management Ltd owned 0.08% of ONE Gas worth $3,000,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 362 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of ONE Gas during the fourth quarter valued at approximately $35,000. Wilmington Savings Fund Society FSB acquired a new position in ONE Gas in the 3rd quarter worth $45,000. Nomura Asset Management Co. Ltd. grew its stake in ONE Gas by 42.0% during 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. Finally, Sound Income Strategies LLC acquired a new stake in shares of ONE Gas during the fourth quarter worth approximately $51,000. 88.71% of the stock is owned by institutional investors and hedge funds.

ONE Gas Stock Up 1.4 %

ONE Gas stock traded up $1.01 during mid-day trading on Tuesday, hitting $72.92. The company's stock had a trading volume of 176,373 shares, compared to its average volume of 433,238. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37. ONE Gas, Inc. has a 52-week low of $58.31 and a 52-week high of $78.89. The firm's 50 day moving average is $73.10 and its 200 day moving average is $72.65. The company has a market cap of $4.37 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. LADENBURG THALM/SH SH upgraded ONE Gas to a "hold" rating in a research report on Monday, March 17th. Morgan Stanley raised their target price on ONE Gas from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and upped their price target for the company from $76.00 to $84.00 in a report on Monday. Bank of America started coverage on shares of ONE Gas in a research note on Friday, December 13th. They set a "buy" rating and a $77.00 target price for the company. Finally, StockNews.com upgraded ONE Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $73.44.

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.