ONE Gas (NYSE:OGS) Issues FY24 Earnings Guidance

ONE Gas (NYSE:OGS) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.70-4.00 for the period, compared to the consensus EPS estimate of $3.86. ONE Gas also updated its FY 2024 guidance to 3.700-4.000 EPS.

ONE Gas Stock Down 0.9 %

OGS traded down $0.61 on Tuesday, reaching $64.48. The company’s stock had a trading volume of 153,510 shares, compared to its average volume of 413,648. The stock has a 50 day moving average of $62.94 and a two-hundred day moving average of $62.00. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 3.39 and a beta of 0.65. ONE Gas has a fifty-two week low of $55.50 and a fifty-two week high of $83.89.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). The firm had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. ONE Gas’s revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 earnings per share. As a group, analysts forecast that ONE Gas will post 3.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OGS shares. Mizuho increased their price objective on ONE Gas from $63.00 to $64.00 and gave the company a neutral rating in a report on Friday, April 19th. Morgan Stanley increased their price objective on ONE Gas from $57.00 to $58.00 and gave the company an equal weight rating in a report on Thursday, March 21st. UBS Group initiated coverage on ONE Gas in a research note on Friday, April 12th. They set a sell rating and a $61.00 price target for the company. LADENBURG THALM/SH SH upgraded ONE Gas from a neutral rating to a buy rating and set a $64.50 price target for the company in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company upped their price target on ONE Gas from $60.00 to $63.00 and gave the stock an equal weight rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $64.56.

About ONE Gas

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.