Nuveen Asset Management LLC decreased its stake in shares of ONE Gas, Inc. (NYSE:OGS – Get Rating) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 349,398 shares of the utilities provider’s stock after selling 119,236 shares during the period. Nuveen Asset Management LLC owned 0.65% of ONE Gas worth $24,595,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of ONE Gas by 1.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,771 shares of the utilities provider’s stock worth $1,110,000 after buying an additional 300 shares during the period. Pictet Asset Management SA raised its stake in ONE Gas by 442.2% in the 2nd quarter. Pictet Asset Management SA now owns 20,063 shares of the utilities provider’s stock worth $1,629,000 after purchasing an additional 16,363 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in ONE Gas by 28.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 45,234 shares of the utilities provider’s stock worth $3,673,000 after purchasing an additional 9,941 shares in the last quarter. Securian Asset Management Inc. raised its stake in ONE Gas by 2.9% in the 2nd quarter. Securian Asset Management Inc. now owns 4,931 shares of the utilities provider’s stock worth $400,000 after purchasing an additional 138 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in ONE Gas by 440.5% in the 2nd quarter. Quantbot Technologies LP now owns 12,897 shares of the utilities provider’s stock worth $1,047,000 after purchasing an additional 10,511 shares in the last quarter. Institutional investors own 83.34% of the company’s stock.
Insider Buying and Selling
In related news, Director Michael G. Hutchinson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $76.95, for a total transaction of $76,950.00. Following the completion of the transaction, the director now directly owns 13,239 shares in the company, valued at approximately $1,018,741.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.38% of the stock is owned by corporate insiders.
ONE Gas Price Performance
ONE Gas (NYSE:OGS – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $818.21 million during the quarter, compared to analysts’ expectations of $670.50 million. ONE Gas had a net margin of 8.60% and a return on equity of 8.93%. The firm’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. On average, equities research analysts predict that ONE Gas, Inc. will post 4.13 EPS for the current fiscal year.
ONE Gas Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 24th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.27%. This is a boost from ONE Gas’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, February 23rd. ONE Gas’s dividend payout ratio is currently 63.57%.
Analysts Set New Price Targets
Several analysts have weighed in on OGS shares. Stifel Nicolaus cut shares of ONE Gas from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Wednesday, January 11th. Wells Fargo & Company lifted their price objective on shares of ONE Gas to $82.00 in a research note on Wednesday, December 14th. Mizuho lifted their price objective on shares of ONE Gas from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America cut shares of ONE Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $79.00 in a research note on Friday, December 16th. Finally, Guggenheim upgraded shares of ONE Gas from a “sell” rating to a “neutral” rating and boosted their target price for the company from $64.00 to $77.00 in a research report on Monday, January 23rd. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, ONE Gas presently has an average rating of “Hold” and an average target price of $78.50.
ONE Gas Company Profile
ONE Gas, Inc engages in the provision of natural gas distribution services. It offers natural gas to residential, commercial, industrial, and transportation customers. The firm operates through three divisions: oklahoma natural gas, kansas gas service and texas gas service The company was founded in 1906 and is headquartered in Tulsa, OK.
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