Wellington Management Group LLP Boosts Stake in ONE Gas, Inc. (NYSE:OGS)

Wellington Management Group LLP raised its position in ONE Gas, Inc. (NYSE:OGS - Free Report) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,470,618 shares of the utilities provider's stock after buying an additional 645,566 shares during the period. Wellington Management Group LLP owned 6.13% of ONE Gas worth $258,283,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Pathstone Holdings LLC increased its position in shares of ONE Gas by 113.5% during the third quarter. Pathstone Holdings LLC now owns 22,681 shares of the utilities provider's stock valued at $1,688,000 after acquiring an additional 12,060 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ONE Gas by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 758,378 shares of the utilities provider's stock valued at $56,438,000 after purchasing an additional 18,889 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of ONE Gas by 19.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 313,816 shares of the utilities provider's stock worth $20,037,000 after purchasing an additional 50,515 shares during the period. abrdn plc raised its stake in shares of ONE Gas by 3.0% during the 3rd quarter. abrdn plc now owns 327,405 shares of the utilities provider's stock worth $24,365,000 after purchasing an additional 9,487 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of ONE Gas in the 3rd quarter worth about $869,000. Institutional investors own 88.71% of the company's stock.

ONE Gas Stock Performance

OGS traded down $1.42 on Friday, hitting $72.62. The company's stock had a trading volume of 455,987 shares, compared to its average volume of 354,492. ONE Gas, Inc. has a 12 month low of $57.74 and a 12 month high of $78.89. The firm has a market cap of $4.11 billion, a P/E ratio of 18.91 and a beta of 0.70. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The company's 50 day simple moving average is $74.09 and its 200-day simple moving average is $69.03.

ONE Gas (NYSE:OGS - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The company had revenue of $340.40 million during the quarter, compared to the consensus estimate of $287.48 million. During the same period in the previous year, the business earned $0.45 earnings per share. ONE Gas's revenue was up 1.4% on a year-over-year basis. Analysts forecast that ONE Gas, Inc. will post 3.88 EPS for the current year.

ONE Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.64%. ONE Gas's dividend payout ratio (DPR) is currently 68.75%.

Analyst Ratings Changes

OGS has been the subject of a number of research analyst reports. StockNews.com downgraded shares of ONE Gas from a "hold" rating to a "sell" rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price target on shares of ONE Gas from $73.00 to $74.00 and gave the stock a "hold" rating in a research note on Friday. Morgan Stanley lifted their price target on shares of ONE Gas from $63.00 to $69.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Wells Fargo & Company reduced their price objective on ONE Gas from $82.00 to $81.00 and set an "overweight" rating for the company in a report on Wednesday, November 6th. Finally, LADENBURG THALM/SH SH downgraded ONE Gas from a "buy" rating to a "neutral" rating and set a $75.50 target price for the company. in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.92.

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.