Norges Bank Invests $43.34 Million in ONE Gas, Inc. (NYSE:OGS)

Norges Bank acquired a new position in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 625,913 shares of the utilities provider's stock, valued at approximately $43,344,000. Norges Bank owned 1.10% of ONE Gas at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings 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 period. Crews Bank & Trust purchased a new position in ONE Gas during the 4th quarter worth approximately $35,000. Wilmington Savings Fund Society FSB acquired a new stake in ONE Gas during the 3rd quarter valued at $45,000. Sound Income Strategies LLC purchased a new stake in shares of ONE Gas in the fourth quarter valued at $51,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of ONE Gas by 42.0% in the third 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. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Stock Up 1.4 %

OGS stock traded up $1.02 during trading hours on Wednesday, hitting $72.97. The company's stock had a trading volume of 934,750 shares, compared to its average volume of 410,145. The company has a market capitalization of $4.37 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The stock has a 50 day moving average price of $73.19 and a two-hundred day moving average price of $72.64. The company has a quick ratio of 0.37, a current ratio of 0.64 and a debt-to-equity ratio of 0.77. ONE Gas, Inc. has a 12 month low of $58.31 and a 12 month high of $78.89.

ONE Gas (NYSE:OGS - Get Free Report) last posted its earnings results on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company 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%. On average, equities research analysts expect that ONE Gas, Inc. will post 4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OGS shares. StockNews.com raised ONE Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Morgan Stanley upped their target price on 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 started coverage on shares of ONE Gas in a report on Friday, December 13th. They set a "buy" rating and a $77.00 price target for the company. Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and boosted their price objective for the company from $76.00 to $84.00 in a research report on Monday. Finally, LADENBURG THALM/SH SH upgraded shares of ONE Gas to a "hold" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $73.44.

ONE Gas 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.