ONE Gas (NYSE:OGS) Announces Quarterly Earnings Results

ONE Gas (NYSE:OGS) posted its quarterly earnings data 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. The firm had revenue of $340.40 million for the quarter, compared to the consensus estimate of $287.48 million. ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. 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 Price Performance

Shares of ONE Gas stock traded up $3.81 on Wednesday, hitting $74.34. 1,472,708 shares of the company were exchanged, compared to its average volume of 407,854. ONE Gas has a 1-year low of $55.50 and a 1-year high of $75.37. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.62 and a beta of 0.67. The company has a 50-day moving average price of $72.12 and a 200 day moving average price of $67.24.

ONE Gas Dividend Announcement

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

Analyst Ratings Changes

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