Magellan Asset Management Ltd boosted its position in ONE Gas Inc (NYSE:OGS) by 16.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 44,155 shares of the utilities provider’s stock after acquiring an additional 6,131 shares during the quarter. Magellan Asset Management Ltd’s holdings in ONE Gas were worth $3,931,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its holdings in ONE Gas by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the utilities provider’s stock worth $1,255,000 after buying an additional 200 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in ONE Gas by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,115 shares of the utilities provider’s stock worth $248,000 after buying an additional 229 shares in the last quarter. Tortoise Index Solutions LLC lifted its holdings in ONE Gas by 0.4% in the 1st quarter. Tortoise Index Solutions LLC now owns 58,225 shares of the utilities provider’s stock worth $5,184,000 after buying an additional 245 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in ONE Gas by 2.3% in the 4th quarter. Advisors Asset Management Inc. now owns 11,022 shares of the utilities provider’s stock worth $877,000 after buying an additional 250 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in ONE Gas in the 1st quarter worth $25,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.
Separately, Morgan Stanley cut their price objective on shares of ONE Gas from $75.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 12th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.67.
ONE Gas (NYSE:OGS) last issued its earnings results on Monday, April 29th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The business had revenue of $661.00 million for the quarter, compared to analyst estimates of $625.25 million. ONE Gas had a net margin of 10.57% and a return on equity of 8.56%. During the same quarter in the prior year, the business posted $1.72 EPS. On average, equities analysts predict that ONE Gas Inc will post 3.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. ONE Gas’s dividend payout ratio (DPR) is presently 61.54%.
In other news, Director Eduardo A. Rodriguez sold 500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $89.04, for a total value of $44,520.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.76% of the company’s stock.
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ONE Gas Profile
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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