Principal Financial Group Inc. Has $12.80 Million Stake in ONE Gas, Inc. (NYSE:OGS)

Principal Financial Group Inc. lowered its position in ONE Gas, Inc. (NYSE:OGS - Free Report) by 28.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,935 shares of the utilities provider's stock after selling 68,130 shares during the period. Principal Financial Group Inc. owned 0.30% of ONE Gas worth $12,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGS. Oddo BHF Asset Management Sas bought a new stake in shares of ONE Gas during the 3rd quarter worth about $3,135,000. Franklin Resources Inc. lifted its stake in shares of ONE Gas by 4.6% in the third quarter. Franklin Resources Inc. now owns 701,933 shares of the utilities provider's stock worth $50,785,000 after buying an additional 31,045 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of ONE Gas during the 3rd quarter worth $45,000. Sanctuary Advisors LLC acquired a new position in ONE Gas in the 3rd quarter valued at $422,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in ONE Gas by 234.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 60,976 shares of the utilities provider's stock worth $4,539,000 after acquiring an additional 42,724 shares during the period. Institutional investors own 88.71% of the company's stock.

ONE Gas Stock Performance

Shares of NYSE OGS traded down $0.38 during trading hours on Friday, reaching $69.56. The stock had a trading volume of 362,712 shares, compared to its average volume of 410,135. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 18.11 and a beta of 0.70. ONE Gas, Inc. has a twelve month low of $57.74 and a twelve month high of $78.89. The business's fifty day moving average is $73.21 and its two-hundred day moving average is $70.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.37.

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

ONE Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, November 19th. ONE Gas's payout ratio is 68.75%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OGS shares. Morgan Stanley upped their price target on shares of ONE Gas from $63.00 to $69.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Bank of America initiated coverage on ONE Gas in a research note on Friday, December 13th. They set a "buy" rating and a $77.00 target price for the company. Stifel Nicolaus lifted their price target on ONE Gas from $73.00 to $74.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. StockNews.com cut ONE Gas from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price objective on shares of ONE Gas from $82.00 to $81.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $72.69.

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.