ONE Gas (NYSE:OGS) Announces Earnings Results

ONE Gas (NYSE:OGS) posted its quarterly earnings results on Monday. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05), Briefing.com reports. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company had revenue of $340.40 million during the quarter, compared to the consensus estimate of $287.48 million. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. ONE Gas updated its FY24 guidance to $3.85-$3.95 EPS and its FY 2024 guidance to 3.850-3.950 EPS.

ONE Gas Stock Performance

Shares of OGS opened at $74.34 on Thursday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 19.36, a P/E/G ratio of 3.62 and a beta of 0.67. ONE Gas has a 52 week low of $55.50 and a 52 week high of $75.37. The stock has a 50 day moving average price of $72.24 and a two-hundred day moving average price of $67.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.32 and a current ratio of 0.41.

ONE Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.64 annualized dividend and a yield of 3.55%. ONE Gas’s payout ratio is 68.75%.

Analysts Set New Price Targets

Several analysts have recently commented on OGS shares. StockNews.com upgraded ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley raised their price objective on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company decreased their price objective on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, ONE Gas has a consensus rating of “Hold” and an average target price of $68.10.

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.