ONE Gas (NYSE:OGS) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

ONE Gas (NYSE:OGS) posted its earnings results on Monday. The utilities provider reported $1.75 earnings per share 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 analyst estimates of $1.05 billion. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the business 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 Performance

Shares of OGS opened at $64.09 on Thursday. The firm has a 50-day moving average of $63.15 and a 200-day moving average of $62.01. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.52 and a quick ratio of 0.39. The company has a market cap of $3.63 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. ONE Gas has a one year low of $55.50 and a one year high of $83.89.

ONE Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, May 17th. ONE Gas’s dividend payout ratio (DPR) is presently 65.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho increased 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. UBS Group began coverage on shares of ONE Gas in a report on Friday, April 12th. They issued a “sell” rating and a $61.00 target price on the stock. Morgan Stanley increased their price objective on shares of ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Wells Fargo & Company increased their price objective on shares of ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Finally, 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 research report on Tuesday, March 5th. Three 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. Based on data from MarketBeat.com, the stock presently has an average 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.