Geneos Wealth Management Inc. Sells 257 Shares of ONE Gas, Inc. (NYSE:OGS)

Posted by Defense World Staff on Apr 16th, 2023

Geneos Wealth Management Inc. reduced its position in shares of ONE Gas, Inc. (NYSE:OGS – Get Rating) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,677 shares of the utilities provider’s stock after selling 257 shares during the quarter. Geneos Wealth Management Inc.’s holdings in ONE Gas were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in shares of ONE Gas by 2.3% during the 4th quarter. New York State Common Retirement Fund now owns 49,981 shares of the utilities provider’s stock valued at $3,785,000 after acquiring an additional 1,108 shares during the last quarter. Signaturefd LLC boosted its position in shares of ONE Gas by 29.9% during the 4th quarter. Signaturefd LLC now owns 699 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 161 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of ONE Gas during the 4th quarter valued at approximately $210,000. New York State Teachers Retirement System raised its holdings in ONE Gas by 7.3% during the 4th quarter. New York State Teachers Retirement System now owns 78,125 shares of the utilities provider’s stock valued at $5,916,000 after buying an additional 5,300 shares during the period. Finally, State of Michigan Retirement System raised its holdings in ONE Gas by 1.5% during the 4th quarter. State of Michigan Retirement System now owns 13,804 shares of the utilities provider’s stock valued at $1,045,000 after buying an additional 200 shares during the period. 83.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on OGS shares. Mizuho increased their price target on ONE Gas from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. StockNews.com started coverage on ONE Gas in a report on Thursday, March 16th. They set a “hold” rating on the stock. Stifel Nicolaus lowered ONE Gas from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a report on Wednesday, January 11th. Guggenheim upgraded ONE Gas from a “sell” rating to a “neutral” rating and increased their price target for the company from $64.00 to $77.00 in a report on Monday, January 23rd. Finally, Morgan Stanley decreased their price target on ONE Gas from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 21st. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, ONE Gas currently has a consensus rating of “Hold” and an average target price of $77.83.

ONE Gas Stock Performance

OGS stock opened at $79.62 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $79.55 and its two-hundred day simple moving average is $78.37. ONE Gas, Inc. has a twelve month low of $68.86 and a twelve month high of $91.25. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.94 and a beta of 0.68.

ONE Gas (NYSE:OGS – Get Rating) last released its earnings results on Wednesday, February 22nd. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. ONE Gas had a return on equity of 8.93% and a net margin of 8.60%. The business had revenue of $818.21 million for the quarter, compared to analyst estimates of $670.50 million. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s revenue was up 37.8% compared to the same quarter last year. Analysts predict that ONE Gas, Inc. will post 4.13 earnings per share for the current year.

ONE Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, February 23rd. This represents a $2.60 annualized dividend and a dividend yield of 3.27%. This is a positive change from ONE Gas’s previous quarterly dividend of $0.62. ONE Gas’s dividend payout ratio (DPR) is currently 63.57%.

ONE Gas Company Profile

(Get Rating)

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.