ONE Gas (NYSE:OGS) Issues FY24 Earnings Guidance

ONE Gas (NYSE:OGS) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.70-4.00 for the period, compared to the consensus estimate of $3.86. ONE Gas also updated its FY 2024 guidance to 3.700-4.000 EPS.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OGS shares. Mizuho increased their target price on ONE Gas from $63.00 to $64.00 and gave the stock a neutral rating in a research note on Friday, April 19th. LADENBURG THALM/SH SH raised shares of ONE Gas from a neutral rating to a buy rating and set a $64.50 target price for the company in a research report on Tuesday, March 5th. Morgan Stanley lifted their price objective on shares of ONE Gas from $57.00 to $58.00 and gave the stock an equal weight rating in a research note on Thursday, March 21st. UBS Group began coverage on shares of ONE Gas in a research report on Friday, April 12th. They set a sell rating and a $61.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of ONE Gas from $60.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $64.56.

ONE Gas Price Performance

Shares of ONE Gas stock traded down $0.74 during midday trading on Wednesday, hitting $64.09. 513,921 shares of the company traded hands, compared to its average volume of 421,661. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.39 and a beta of 0.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.39 and a current ratio of 0.52. The firm’s fifty day moving average price is $63.15 and its 200-day moving average price is $62.01. ONE Gas has a 12 month low of $55.50 and a 12 month high of $83.89.

ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. The company had revenue of $758.32 million for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ONE Gas will post 3.86 earnings per share for the current year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, May 17th. ONE Gas’s payout ratio is 63.77%.

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.