ONE Gas (NYSE:OGS) Posts Earnings Results, Misses Estimates By $0.07 EPS

ONE Gas (NYSE:OGS) announced its earnings results on Monday. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.07), Briefing.com reports. ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The business had revenue of $340.40 million for the quarter, compared to the consensus estimate of $287.48 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. 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

NYSE:OGS opened at $69.97 on Tuesday. The business’s 50-day moving average is $72.08 and its 200 day moving average is $67.20. ONE Gas has a 12 month low of $55.50 and a 12 month high of $74.99. The company has a market capitalization of $3.96 billion, a P/E ratio of 17.71, a P/E/G ratio of 3.63 and a beta of 0.67. The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley upped their price target on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their target price on ONE Gas from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.30.

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.