ONE Gas (NYSE:OGS) Releases FY24 Earnings Guidance

ONE Gas (NYSE:OGS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.70-4.00 for the period, compared to the consensus estimate of $3.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of ONE Gas from $64.00 to $65.00 and gave the company a neutral rating in a report on Wednesday, June 5th. 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 price target for the company. StockNews.com cut shares of ONE Gas from a hold rating to a sell rating in a report on Saturday, July 20th. Finally, Morgan Stanley reduced their price target on shares of 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 investment 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’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $64.69.

ONE Gas Stock Performance

NYSE:OGS traded down $2.50 during mid-day trading on Monday, reaching $66.57. 522,903 shares of the company’s stock were exchanged, compared to its average volume of 435,311. ONE Gas has a one year low of $55.50 and a one year high of $78.03. The firm has a market capitalization of $3.77 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 3.62 and a beta of 0.66. The business’s fifty day simple moving average is $63.91 and its two-hundred day simple moving average is $62.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.39 and a current ratio of 0.47.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). ONE Gas had a return on equity of 8.37% and a net margin of 10.86%. The business had revenue of $758.32 million for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $1.84 earnings per share. ONE Gas’s revenue was down 26.5% compared to the same quarter last year. Analysts anticipate that ONE Gas will post 3.85 earnings per share for the current fiscal year.

ONE Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a yield of 3.97%. ONE Gas’s payout ratio is 65.19%.

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.