Morgan Stanley Cuts ONE Gas (NYSE:OGS) Price Target to $83.00

ONE Gas (NYSE:OGS) had its price target dropped by equities research analysts at Morgan Stanley from $85.00 to $83.00 in a research note issued to investors on Friday, AnalystRatings.com reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 3.85% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. UBS Group upgraded shares of ONE Gas from a “sell” rating to a “neutral” rating and set a $90.00 price objective for the company in a report on Tuesday, September 10th. Mizuho began coverage on shares of ONE Gas in a report on Wednesday, October 16th. They issued a “neutral” rating and a $96.00 price objective for the company. Finally, ValuEngine lowered shares of ONE Gas from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $89.67.

Shares of OGS traded down $1.35 during mid-day trading on Friday, reaching $86.32. The company had a trading volume of 206,328 shares, compared to its average volume of 203,160. ONE Gas has a 52 week low of $75.51 and a 52 week high of $96.66. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 4.14 and a beta of 0.26. The firm has a 50-day moving average price of $93.89 and a 200 day moving average price of $90.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.40 and a current ratio of 0.57.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). ONE Gas had a return on equity of 8.63% and a net margin of 10.83%. The firm had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $254.15 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, research analysts forecast that ONE Gas will post 3.5 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 361 Capital LLC raised its holdings in ONE Gas by 18.5% in the 2nd quarter. 361 Capital LLC now owns 36,406 shares of the utilities provider’s stock worth $3,287,000 after acquiring an additional 5,678 shares during the last quarter. WINTON GROUP Ltd raised its stake in ONE Gas by 8.6% during the 2nd quarter. WINTON GROUP Ltd now owns 257,609 shares of the utilities provider’s stock valued at $23,262,000 after buying an additional 20,467 shares during the last quarter. Paloma Partners Management Co purchased a new stake in ONE Gas during the 2nd quarter valued at $344,000. Ardevora Asset Management LLP raised its stake in ONE Gas by 11.0% during the 3rd quarter. Ardevora Asset Management LLP now owns 480,300 shares of the utilities provider’s stock valued at $46,162,000 after buying an additional 47,500 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new stake in ONE Gas during the 2nd quarter valued at $2,551,000. Institutional investors own 75.50% of the company’s stock.

About ONE Gas

ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.

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