Bank of New York Mellon Corp Boosts Holdings in ONE Gas, Inc. (NYSE:OGS)

Bank of New York Mellon Corp lifted its stake in ONE Gas, Inc. (NYSE:OGS) by 23.2% in the 1st quarter, HoldingsChannel reports. The firm owned 787,029 shares of the utilities provider’s stock after buying an additional 148,003 shares during the quarter. Bank of New York Mellon Corp’s holdings in ONE Gas were worth $59,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coppell Advisory Solutions LLC purchased a new stake in shares of ONE Gas in the 4th quarter worth about $26,000. UMB Bank n.a. lifted its position in shares of ONE Gas by 69.1% in the 1st quarter. UMB Bank n.a. now owns 629 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 257 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ONE Gas in the 4th quarter worth about $50,000. Farther Finance Advisors LLC lifted its position in shares of ONE Gas by 195.6% in the 1st quarter. Farther Finance Advisors LLC now owns 801 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 530 shares during the period. Finally, Transce3nd LLC purchased a new stake in shares of ONE Gas in the 4th quarter worth about $77,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

ONE Gas Stock Down 0.8%

NYSE:OGS opened at $73.08 on Friday. The firm has a market cap of $4.38 billion, a P/E ratio of 17.65, a P/E/G ratio of 3.09 and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.59. ONE Gas, Inc. has a fifty-two week low of $65.18 and a fifty-two week high of $82.25. The firm has a 50-day simple moving average of $74.02 and a two-hundred day simple moving average of $73.34.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.13. The business had revenue of $935.19 million during the quarter, compared to analyst estimates of $882.31 million. ONE Gas had a net margin of 10.75% and a return on equity of 8.15%. ONE Gas’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned $1.75 EPS. Analysts predict that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Monday, May 19th. ONE Gas’s payout ratio is presently 64.73%.

Wall Street Analyst Weigh In

Several research firms have recently commented on OGS. Morgan Stanley reaffirmed an “underperform” rating on shares of ONE Gas in a research report on Wednesday, June 18th. LADENBURG THALM/SH SH upgraded shares of ONE Gas to a “hold” rating in a research note on Friday, May 9th. Jefferies Financial Group upgraded shares of ONE Gas from a “hold” rating to a “buy” rating and increased their price target for the stock from $76.00 to $84.00 in a research note on Monday, April 7th. Wells Fargo & Company increased their price target on shares of ONE Gas from $82.00 to $89.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Guggenheim increased their price target on shares of ONE Gas from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.64.

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.