ONE Gas (NYSE:OGS) Price Target Raised to $70.00

ONE Gas (NYSE:OGS - Free Report) had its target price upped by Morgan Stanley from $68.00 to $70.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider's stock.

Several other research firms have also weighed in on OGS. Jefferies Financial Group reduced their target price on ONE Gas from $79.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus boosted their price objective on ONE Gas from $73.00 to $74.00 and gave the company a "hold" rating in a research report on Friday, December 6th. StockNews.com raised ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Bank of America assumed coverage on shares of ONE Gas in a research note on Friday, December 13th. They issued a "buy" rating and a $77.00 price target on the stock. Finally, LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research report on Monday, March 17th. 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $72.44.

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ONE Gas Trading Up 0.5 %

Shares of OGS stock traded up $0.35 on Thursday, reaching $73.43. The company had a trading volume of 372,910 shares, compared to its average volume of 375,269. The stock has a market cap of $4.40 billion, a PE ratio of 18.78, a PEG ratio of 3.64 and a beta of 0.66. The company has a 50-day moving average of $72.37 and a 200-day moving average of $72.44. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 0.77. ONE Gas has a 12 month low of $58.31 and a 12 month high of $78.89.

ONE Gas (NYSE:OGS - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $973.58 million. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. On average, equities analysts forecast that ONE Gas will post 4.26 earnings per share for the current year.

ONE Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.67 dividend. This is a positive change from ONE Gas's previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, February 21st. ONE Gas's payout ratio is presently 68.54%.

Hedge Funds Weigh In On ONE Gas

A number of large investors have recently modified their holdings of OGS. Atria Investments Inc raised its holdings in ONE Gas by 21.9% during the third quarter. Atria Investments Inc now owns 4,555 shares of the utilities provider's stock worth $339,000 after acquiring an additional 817 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of ONE Gas by 113.5% during the 3rd quarter. Pathstone Holdings LLC now owns 22,681 shares of the utilities provider's stock worth $1,688,000 after purchasing an additional 12,060 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of ONE Gas during the 3rd quarter worth approximately $1,100,000. Integrated Investment Consultants LLC acquired a new stake in shares of ONE Gas in the 3rd quarter valued at approximately $461,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ONE Gas by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 758,378 shares of the utilities provider's stock valued at $56,438,000 after buying an additional 18,889 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.