ONE Gas (NYSE:OGS) Announces Quarterly Earnings Results

ONE Gas (NYSE:OGS) issued its earnings results on Monday. The utilities provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03), Briefing.com reports. The firm had revenue of $758.32 million during the quarter, compared to analysts’ expectations of $1.05 billion. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. ONE Gas updated its FY24 guidance to $3.70-4.00 EPS and its FY 2024 guidance to 3.700-4.000 EPS.

ONE Gas Stock Down 0.4 %

Shares of OGS stock opened at $64.84 on Wednesday. ONE Gas has a 12 month low of $55.50 and a 12 month high of $83.89. The stock has a market cap of $3.67 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.39 and a beta of 0.65. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $63.05 and a two-hundred day simple moving average of $61.99.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.64 dividend on an annualized basis and a yield of 4.07%. ONE Gas’s dividend payout ratio is currently 63.77%.

Wall Street Analyst Weigh In

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

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.