Mizuho Increases ONE Gas (NYSE:OGS) Price Target to $64.00

ONE Gas (NYSE:OGS) had its price target raised by Mizuho from $63.00 to $64.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

OGS has been the topic of a number of other research reports. LADENBURG THALM/SH SH upgraded ONE Gas from a neutral rating to a buy rating and set a $64.50 target price on the stock in a report on Tuesday, March 5th. UBS Group began coverage on ONE Gas in a report on Friday, April 12th. They set a sell rating and a $61.00 target price on the stock. Wells Fargo & Company upped their target price on ONE Gas from $60.00 to $63.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Finally, Morgan Stanley upped their target price on ONE Gas from $57.00 to $58.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $64.56.

ONE Gas Stock Performance

ONE Gas stock opened at $64.39 on Friday. ONE Gas has a fifty-two week low of $55.50 and a fifty-two week high of $83.89. The stock’s 50 day simple moving average is $61.88 and its two-hundred day simple moving average is $62.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.39 and a current ratio of 0.52. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 3.22 and a beta of 0.65.

ONE Gas (NYSE:OGS) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $1.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.27. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The firm had revenue of $605.90 million for the quarter, compared to the consensus estimate of $751.77 million. During the same quarter in the prior year, the business earned $1.23 EPS. The business’s revenue for the quarter was down 26.0% on a year-over-year basis. As a group, analysts expect that ONE Gas will post 3.86 earnings per share for the current fiscal year.

ONE Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.64 annualized dividend and a dividend yield of 4.10%. This is an increase from ONE Gas’s previous quarterly dividend of $0.65. ONE Gas’s dividend payout ratio is presently 63.77%.

Institutional Trading of ONE Gas

Several hedge funds and other institutional investors have recently made changes to their positions in OGS. State Street Corp boosted its stake in ONE Gas by 201.2% during the 1st quarter. State Street Corp now owns 6,266,661 shares of the utilities provider’s stock valued at $496,508,000 after purchasing an additional 4,186,102 shares during the last quarter. Morgan Stanley boosted its stake in ONE Gas by 389.6% during the 4th quarter. Morgan Stanley now owns 1,380,333 shares of the utilities provider’s stock valued at $104,519,000 after purchasing an additional 1,098,392 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in ONE Gas during the 4th quarter valued at $30,826,000. Norges Bank purchased a new stake in ONE Gas during the 4th quarter valued at $30,395,000. Finally, Wellington Management Group LLP purchased a new stake in ONE Gas during the 1st quarter valued at $33,454,000. Hedge funds and other 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.