Analysts at Wells Fargo & Company raise price target for ONE Gas (NYSE:OGS) to $71.00

ONE Gas (NYSE:OGS – Free Report) The price target was raised by Wells Fargo & Company from $68.00 to $71.00 in a research report sent to investors Wednesday morning, Benzinga reports. They currently have an equal weight rating on the utility company’s stock.

OGS has been the subject of a number of other research reports. Mizuho raised their price target on ONE Gas from $64.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. StockNews.com downgraded ONE Gas from a hold rating to a sell rating in a research note on Saturday, July 20th. UBS Group began coverage on ONE Gas in a research note on Friday, April 12th. They gave the company a sell rating and a $61.00 price target. Finally, Morgan Stanley decreased their price target on ONE Gas from $61.00 to $58.00 and gave the company an equal weight rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given the stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $65.69.

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Performance of ONE Gas shares

OGS rose $0.39 on Wednesday, reaching $67.70. 272,260 shares traded hands, compared to an average volume of 434,874. The company has a quick ratio of 0.39, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. ONE Gas has a 1-year low of $55.50 and a 1-year high of $77.04. The stock has a 50-day moving average price of $64.64 and a 200-day moving average price of $63.07. The company has a market cap of $3.83 billion, a P/E ratio of 16.72, a PEG ratio of 3.62 and a beta of 0.66.

ONE Gas (NYSE:OGS – Get Free Report) last announced its earnings results on Monday, August 5. The utility provider reported earnings per share of $0.48 for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $354.14 million during the quarter, compared to analyst estimates of $362.06 million. ONE Gas had a net margin of 10.86% and a return on equity of 8.37%. The company’s revenue declined 11.0% compared to the year-ago quarter. During the same period last year, the company generated earnings per share of $0.58. As a group, sell-side analysts forecast that ONE Gas will post earnings per share of $3.85 for the current year.

Dividend announcement for ONE Gas

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will receive a dividend of $0.66 per share. This represents an annualized dividend of $2.64 and a dividend yield of 3.90%. The ex-dividend date is Wednesday, August 14th. ONE Gas’s dividend payout ratio (DPR) is 65.19%.

Institutional trading with ONE Gas

Hedge funds have recently added to or reduced their holdings in the company. Fifth Third Bancorp increased its holdings in shares of ONE Gas by 66.3% in the 1st quarter. Fifth Third Bancorp now owns 424 shares of the utility company’s stock worth $27,000 after buying an additional 169 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of ONE Gas by 290.4% in the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the utility company’s stock worth $29,000 after buying an additional 334 shares during the same period. Rothschild Investment LLC acquired a new position in shares of ONE Gas in the 2nd quarter valued at about $30,000. Jones Financial Companies Lllp increased its position in ONE Gas by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 637 shares of the utility company’s stock valued at $41,000 after purchasing an additional 337 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in ONE Gas by 147.8% in the first quarter. Hexagon Capital Partners LLC now owns 803 shares of the utility company’s stock valued at $52,000 after purchasing an additional 479 shares during the same period. 88.71% of the shares are owned by institutional investors and hedge funds.

About ONE Gas

(Get free report)

ONE Gas, Inc., together with its subsidiaries, is a regulated natural gas utility in the United States. The company supplies natural gas to approximately 2.3 million customers in Oklahoma, Kansas and Texas. It serves residential, commercial and transportation customers.