Magellan Asset Management Ltd Buys 8,885 Shares of ONE Gas, Inc. $OGS

Magellan Asset Management Ltd raised its stake in shares of ONE Gas, Inc. (NYSE:OGS) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,731 shares of the utilities provider’s stock after buying an additional 8,885 shares during the period. Magellan Asset Management Ltd owned about 0.09% of ONE Gas worth $4,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of ONE Gas by 1,393.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,597,487 shares of the utilities provider’s stock worth $114,795,000 after buying an additional 1,490,492 shares during the last quarter. Norges Bank purchased a new stake in ONE Gas during the fourth quarter valued at $70,767,000. Nuveen LLC lifted its holdings in ONE Gas by 101.1% in the fourth quarter. Nuveen LLC now owns 776,495 shares of the utilities provider’s stock valued at $59,984,000 after acquiring an additional 390,344 shares during the period. Goldman Sachs Group Inc. lifted its holdings in ONE Gas by 37.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,398,440 shares of the utilities provider’s stock valued at $108,029,000 after acquiring an additional 380,668 shares during the period. Finally, Squarepoint Ops LLC boosted its position in ONE Gas by 187.1% in the second quarter. Squarepoint Ops LLC now owns 550,521 shares of the utilities provider’s stock worth $39,560,000 after purchasing an additional 358,779 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OGS has been the subject of a number of recent research reports. Weiss Ratings downgraded ONE Gas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Wells Fargo & Company began coverage on shares of ONE Gas in a research note on Monday, May 11th. They issued an “underweight” rating and a $85.00 price objective on the stock. Mizuho dropped their price objective on shares of ONE Gas from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Tuesday, June 9th. Capital One Financial set a $93.00 target price on shares of ONE Gas in a research report on Friday, June 12th. Finally, Wall Street Zen cut shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $90.00.

ONE Gas Stock Performance

Shares of OGS opened at $78.61 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $78.85 and a two-hundred day simple moving average of $82.40. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.69 and a beta of 0.66. ONE Gas, Inc. has a 52 week low of $71.71 and a 52 week high of $90.78.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.02). The company had revenue of $831.71 million for the quarter, compared to analysts’ expectations of $969.36 million. ONE Gas had a net margin of 11.77% and a return on equity of 8.45%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.99 earnings per share. ONE Gas has set its FY 2026 guidance at 4.830-4.950 EPS. On average, analysts expect that ONE Gas, Inc. will post 4.74 EPS for the current year.

ONE Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were paid a dividend of $0.68 per share. The ex-dividend date was Monday, May 18th. This represents a $2.72 dividend on an annualized basis and a yield of 3.5%. ONE Gas’s dividend payout ratio (DPR) is presently 61.40%.

About ONE Gas

ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company’s service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.