ONE Gas (NYSE:OGS) Shares Gap Down After Earnings Miss

Shares of ONE Gas, Inc. (NYSE:OGS) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $65.09, but opened at $62.45. ONE Gas shares last traded at $63.53, with a volume of 23,941 shares trading hands.

The utilities provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The firm had revenue of $758.32 million for the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. ONE Gas’s revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho raised their target price on ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. LADENBURG THALM/SH SH upgraded shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price objective for the company in a report on Tuesday, March 5th. UBS Group began coverage on shares of ONE Gas in a research report on Friday, April 12th. They issued a “sell” rating and a $61.00 price target for the company. Wells Fargo & Company upped their price objective on ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Finally, Morgan Stanley boosted their target price on ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.56.

Institutional Investors Weigh In On ONE Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its holdings in shares of ONE Gas by 66.3% in the 1st quarter. Fifth Third Bancorp now owns 424 shares of the utilities provider’s stock valued at $27,000 after buying an additional 169 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of ONE Gas during the fourth quarter worth about $28,000. Quadrant Capital Group LLC boosted its position in shares of ONE Gas by 290.4% in the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 334 shares during the period. Jones Financial Companies Lllp grew its stake in ONE Gas by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 637 shares of the utilities provider’s stock worth $41,000 after buying an additional 337 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of ONE Gas by 147.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 803 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 479 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

ONE Gas Trading Down 1.1 %

The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.52 and a quick ratio of 0.39. The business’s 50 day simple moving average is $62.94 and its 200 day simple moving average is $62.00.

About ONE Gas

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.