Voloridge Investment Management LLC Acquires New Stake in ONE Gas, Inc. (NYSE:OGS)

Voloridge Investment Management LLC acquired a new stake in shares of ONE Gas, Inc. (NYSE:OGS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,791 shares of the utilities provider's stock, valued at approximately $1,301,000.

A number of other hedge funds have also made changes to their positions in OGS. Atria Wealth Solutions Inc. acquired a new position in ONE Gas in the fourth quarter worth approximately $203,000. KBC Group NV grew its position in ONE Gas by 41.0% in the fourth quarter. KBC Group NV now owns 2,218 shares of the utilities provider's stock worth $154,000 after buying an additional 645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ONE Gas by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,238 shares of the utilities provider's stock worth $54,239,000 after buying an additional 24,860 shares during the last quarter. Sanctuary Advisors LLC grew its position in ONE Gas by 9.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,952 shares of the utilities provider's stock worth $420,000 after buying an additional 531 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ONE Gas in the fourth quarter worth approximately $2,346,000. Institutional investors and hedge funds own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OGS. LADENBURG THALM/SH SH raised shares of ONE Gas to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of ONE Gas from $82.00 to $89.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of ONE Gas from $74.00 to $69.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised shares of ONE Gas from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of ONE Gas from a "hold" rating to a "buy" rating and lifted their target price for the company from $76.00 to $84.00 in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $75.81.

Check Out Our Latest Analysis on ONE Gas

ONE Gas Trading Down 2.2%

Shares of NYSE OGS opened at $73.52 on Thursday. The company's 50 day simple moving average is $75.75 and its 200 day simple moving average is $73.50. ONE Gas, Inc. has a fifty-two week low of $58.31 and a fifty-two week high of $82.25. The firm has a market capitalization of $4.41 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.64 and a quick ratio of 0.37.

ONE Gas (NYSE:OGS - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.13. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The business had revenue of $935.19 million for the quarter, compared to analyst estimates of $882.31 million. During the same period in the prior year, the business posted $1.75 earnings per share. ONE Gas's revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that ONE Gas, Inc. will post 4.26 EPS for the current year.

ONE Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, May 19th. ONE Gas's dividend payout ratio is 64.73%.

ONE Gas 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.

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