ONE Gas (NYSE:OGS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

ONE Gas (NYSE:OGS) posted its earnings results 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 net margin of 10.86% and a return on equity of 8.37%. The business had revenue of $354.14 million for the quarter, compared to analyst estimates of $362.06 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue 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 Stock Performance

Shares of OGS opened at $66.12 on Wednesday. The stock has a market capitalization of $3.74 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 3.62 and a beta of 0.66. The business’s fifty day moving average price is $64.18 and its 200 day moving average price is $62.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.39. ONE Gas has a 12-month low of $55.50 and a 12-month high of $78.03.

ONE Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Wednesday, August 14th. ONE Gas’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OGS. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Morgan Stanley decreased their price objective on shares of ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Mizuho lifted their target price on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Finally, UBS Group began coverage on ONE Gas in a report on Friday, April 12th. They issued a “sell” rating and a $61.00 price target for the company. Three 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.69.

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.