UPDATE: Seaport Global Securities Starts ONE Gas Inc. (OGS) at Neutral
- World stocks hold near 16-month highs after strong week
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Oil edges higher on optimism over non-OPEC output cuts
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Sibanye Gold (SBGL) to Acquire Stillwater Mining Company (SWC) in $2.2B Deal
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(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.
Shares of ONE Gas Inc. closed at $59.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- BMO Capital Downgrades DAVIDsTEA (DTEA) to Market Perform
- UPDATE: Stifel Downgrades AZZ Inc. (AZZ) to Sell
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!