ONE Gas (NYSE:OGS) Posts Quarterly Earnings Results

ONE Gas (NYSE:OGS) issued its earnings results on Monday. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01), Briefing.com reports. The firm had revenue of $354.14 million during the quarter, compared to the consensus estimate of $362.06 million. ONE Gas had a net margin of 10.86% and a return on equity of 8.37%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. ONE Gas updated its FY24 guidance to $3.70-4.00 EPS.

ONE Gas Price Performance

NYSE OGS traded up $0.58 during trading on Wednesday, reaching $66.70. The company’s stock had a trading volume of 14,792 shares, compared to its average volume of 433,519. The stock has a market capitalization of $3.77 billion, a PE ratio of 16.33, a P/E/G ratio of 3.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.39. The firm has a fifty day moving average of $64.18 and a 200 day moving average of $62.95. ONE Gas has a one year low of $55.50 and a one year high of $77.90.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a yield of 3.96%. ONE Gas’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

Several analysts have issued reports on OGS shares. UBS Group started coverage on ONE Gas in a research note on Friday, April 12th. They issued a “sell” rating and a $61.00 target price on the stock. StockNews.com lowered ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Mizuho boosted their price objective on ONE Gas from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Finally, Morgan Stanley decreased their price objective on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ONE Gas presently has an average rating of “Hold” and an average price target of $64.69.

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.