Wells Fargo & Company Has Lowered Expectations for ONE Gas (NYSE:OGS) Stock Price

ONE Gas (NYSE:OGS - Get Free Report) had its price target decreased by analysts at Wells Fargo & Company from $82.00 to $81.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price indicates a potential upside of 8.96% from the company's current price.

A number of other equities analysts have also recently commented on OGS. Morgan Stanley lifted their price target on ONE Gas from $63.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of ONE Gas from a "sell" rating to a "hold" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $68.10.

ONE Gas Price Performance

Shares of NYSE:OGS traded up $3.81 on Wednesday, hitting $74.34. The company's stock had a trading volume of 1,472,708 shares, compared to its average volume of 407,854. The company has a 50-day simple moving average of $72.12 and a 200 day simple moving average of $67.24. ONE Gas has a 1 year low of $55.50 and a 1 year high of $75.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32. The company has a market capitalization of $4.21 billion, a PE ratio of 19.27, a PEG ratio of 3.62 and a beta of 0.67.

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). The business had revenue of $340.40 million during the quarter, compared to analysts' expectations of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. ONE Gas's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. Sell-side analysts forecast that ONE Gas will post 3.86 EPS for the current fiscal year.

Institutional Investors Weigh In On ONE Gas

Large investors have recently modified their holdings of the stock. Coastline Trust Co purchased a new position in shares of ONE Gas during the 3rd quarter worth approximately $60,000. Connable Office Inc. purchased a new stake in shares of ONE Gas in the 3rd quarter worth about $474,000. Cable Hill Partners LLC purchased a new position in ONE Gas during the 3rd quarter valued at about $261,000. Oppenheimer Asset Management Inc. bought a new stake in shares of ONE Gas in the 3rd quarter worth approximately $1,595,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of ONE Gas by 4.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,734 shares of the utilities provider's stock worth $278,000 after acquiring an additional 159 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

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.