ONE Gas (NYSE:OGS) Posts Earnings Results, Misses Expectations By $0.05 EPS

ONE Gas (NYSE:OGS) released its quarterly earnings results on Monday. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05), Briefing.com reports. ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The firm 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 revenue for the quarter was up 1.4% on a year-over-year basis. 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

OGS stock opened at $74.34 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.41 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 3.62 and a beta of 0.67. The company’s fifty day simple moving average is $72.24 and its 200 day simple moving average is $67.29. ONE Gas has a 12-month low of $55.50 and a 12-month high of $75.37.

ONE Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s dividend payout ratio is presently 68.75%.

Analysts Set New Price Targets

OGS has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price objective on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.10.

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.