UPDATE: Seaport Global Securities Starts ONE Gas Inc. (OGS) at Neutral

November 18, 2016 8:52 AM EST
Get Alerts OGS Hot Sheet
Price: $63.38 -1.54%

Rating Summary:
    0 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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(Updated - November 18, 2016 10:16 AM EST)

Seaport Global Securities initiated coverage on ONE Gas Inc. (NYSE: OGS) with a Neutral rating and a price target of $60. Analyst Mark A. Levin is cautious on valuation.

"OGS operates the largest gas utilities in Oklahoma and Kansas and the third largest in Texas. In short, there’s a lot to like about ONE Gas. It’s 100% regulated, and we believe that it offers reasonably low-risk 5%-8% net income growth through 2020, and very solid 8%-10% average annual dividend growth between now and the end of the decade. So why not a Buy rating? We think the valuation fairly reflects these positives, which in turn, limits the upside.," said the analyst.

For an analyst ratings summary and ratings history on ONE Gas Inc. click here. For more ratings news on ONE Gas Inc. click here.

Shares of ONE Gas Inc. closed at $59.33 yesterday.

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