ONE Gas (NYSE:OGS) Updates FY 2024 Earnings Guidance

ONE Gas (NYSE:OGS) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.850-3.950 for the period, compared to the consensus earnings per share estimate of 3.840. The company issued revenue guidance of -. ONE Gas also updated its FY24 guidance to $3.85-$3.95 EPS.

ONE Gas Trading Down 1.7 %

OGS stock traded down $1.24 during midday trading on Thursday, reaching $73.10. The stock had a trading volume of 218,229 shares, compared to its average volume of 406,976. The business has a fifty day simple moving average of $72.24 and a two-hundred day simple moving average of $67.29. 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 $4.14 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 3.62 and a beta of 0.67. ONE Gas has a twelve month low of $55.50 and a twelve month high of $75.37.

ONE Gas (NYSE:OGS) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). ONE Gas had a return on equity of 7.71% and a net margin of 10.52%. The company 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 business posted $0.45 EPS. ONE Gas’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that ONE Gas will post 3.86 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s payout ratio is presently 68.75%.

Analysts Set New Price Targets

OGS has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on ONE Gas from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com raised ONE Gas from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company reduced their price target on ONE Gas from $82.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday. One research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.10.

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.