ONE Gas (NYSE:OGS) Announces Earnings Results, Misses Estimates By $0.01 EPS

ONE Gas (NYSE:OGS) issued its quarterly earnings data on Monday. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01), Briefing.com reports. ONE Gas had a return on equity of 8.37% and a net margin of 10.86%. The business had revenue of $354.14 million during the quarter, compared to analyst estimates of $362.06 million. During the same quarter last year, the firm earned $0.58 EPS. ONE Gas’s revenue for the quarter was down 11.0% compared to the same quarter last year. ONE Gas updated its FY24 guidance to $3.70-4.00 EPS.

ONE Gas Trading Up 1.8 %

OGS traded up $1.22 during trading on Wednesday, reaching $67.34. 162,574 shares of the company’s stock were exchanged, compared to its average volume of 434,498. The firm has a fifty day moving average price of $64.18 and a two-hundred day moving average price of $62.95. The stock has a market capitalization of $3.81 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 3.62 and a beta of 0.66. ONE Gas has a one year low of $55.50 and a one year high of $77.90. The company has a current ratio of 0.47, a quick ratio of 0.39 and a debt-to-equity ratio of 0.76.

ONE Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Wednesday, August 14th. ONE Gas’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OGS. UBS Group assumed coverage on ONE Gas in a research report on Friday, April 12th. They set a “sell” rating and a $61.00 price target on the stock. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Mizuho upped their price target on shares of ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Wells Fargo & Company increased their price target on shares of ONE Gas from $68.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.69.

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.