Amalgamated Bank Has $1.88 Million Position in ONE Gas, Inc. $OGS

Amalgamated Bank raised its stake in ONE Gas, Inc. (NYSE:OGS) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,224 shares of the utilities provider’s stock after purchasing an additional 944 shares during the period. Amalgamated Bank’s holdings in ONE Gas were worth $1,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OGS. Nuveen LLC acquired a new position in shares of ONE Gas in the first quarter valued at $29,697,000. Aberdeen Group plc increased its holdings in shares of ONE Gas by 80.6% in the first quarter. Aberdeen Group plc now owns 468,027 shares of the utilities provider’s stock valued at $35,378,000 after purchasing an additional 208,944 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of ONE Gas by 512.6% in the first quarter. Allianz Asset Management GmbH now owns 188,075 shares of the utilities provider’s stock valued at $14,217,000 after purchasing an additional 157,375 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ONE Gas by 23.2% in the first quarter. Bank of New York Mellon Corp now owns 787,029 shares of the utilities provider’s stock valued at $59,492,000 after purchasing an additional 148,003 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ONE Gas by 2.3% in the first quarter. Vanguard Group Inc. now owns 6,417,990 shares of the utilities provider’s stock valued at $485,136,000 after acquiring an additional 147,186 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OGS. Weiss Ratings restated a “buy (b-)” rating on shares of ONE Gas in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on shares of ONE Gas from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Mizuho upgraded shares of ONE Gas from a “neutral” rating to an “outperform” rating and upped their price target for the company from $77.00 to $86.00 in a research note on Friday, September 26th. Finally, Morgan Stanley restated an “outperform” rating and issued a $72.00 price target on shares of ONE Gas in a research note on Wednesday, October 22nd. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, ONE Gas currently has a consensus rating of “Moderate Buy” and an average target price of $80.69.

ONE Gas Trading Down 1.4%

Shares of ONE Gas stock opened at $80.75 on Thursday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 3.23 and a beta of 0.85. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.74. ONE Gas, Inc. has a 12-month low of $66.38 and a 12-month high of $83.39. The firm’s 50-day moving average price is $78.92 and its two-hundred day moving average price is $76.08.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $379.13 million for the quarter, compared to the consensus estimate of $404.19 million. ONE Gas had a net margin of 10.76% and a return on equity of 8.06%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. ONE Gas has set its FY 2025 guidance at 4.340-4.400 EPS. On average, analysts forecast that ONE Gas, Inc. will post 4.26 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 14th. ONE Gas’s dividend payout ratio is presently 63.96%.

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.