ONE Gas (NYSE:OGS) Hits New 12-Month High – Here’s What Happened

ONE Gas, Inc. (NYSE:OGS)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $79.03 and last traded at $78.80, with a volume of 31108 shares. The stock had previously closed at $78.49.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group upgraded ONE Gas from a “hold” rating to a “buy” rating and increased their price objective for the company from $76.00 to $84.00 in a report on Monday, April 7th. LADENBURG THALM/SH SH raised ONE Gas to a “hold” rating in a research note on Monday, March 17th. Morgan Stanley set a $74.00 price objective on ONE Gas and gave the stock an “outperform” rating in a research note on Wednesday. Finally, StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, ONE Gas has a consensus rating of “Moderate Buy” and an average target price of $75.79.

ONE Gas Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.64 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $4.70 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. The company’s 50 day moving average is $74.58 and its 200-day moving average is $72.89.

ONE Gas (NYSE:OGS) last released its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. ONE Gas had a net margin of 10.70% and a return on equity of 7.70%. The company had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $973.58 million. As a group, equities analysts anticipate that ONE Gas, Inc. will post 4.26 EPS for the current year.

Hedge Funds Weigh In On ONE Gas

Large investors have recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of ONE Gas by 3,620.0% during the fourth quarter. UMB Bank n.a. now owns 372 shares of the utilities provider’s stock valued at $26,000 after buying an additional 362 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in ONE Gas in the 4th quarter valued at about $26,000. Crews Bank & Trust acquired a new position in ONE Gas during the 4th quarter valued at about $35,000. Wilmington Savings Fund Society FSB bought a new stake in ONE Gas during the 3rd quarter worth approximately $45,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ONE Gas in the fourth quarter worth approximately $50,000. 88.71% of the stock is currently owned by institutional investors.

ONE Gas Company 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.