ONE Gas (NYSE:OGS) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

ONE Gas (NYSE:OGS) posted its earnings results on Monday. The utilities provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03), Briefing.com reports. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The business had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The company’s revenue was down 26.5% on a year-over-year basis. ONE Gas updated its FY24 guidance to $3.70-4.00 EPS and its FY 2024 guidance to 3.700-4.000 EPS.

ONE Gas Stock Down 1.1 %

ONE Gas stock opened at $64.09 on Thursday. ONE Gas has a 1-year low of $55.50 and a 1-year high of $83.89. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 3.39 and a beta of 0.65. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $62.01.

ONE Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 20th will be paid a $0.66 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.64 dividend on an annualized basis and a yield of 4.12%. ONE Gas’s dividend payout ratio is 65.19%.

Analyst Ratings Changes

Several brokerages recently weighed in on OGS. Mizuho raised their price target on shares of ONE Gas from $63.00 to $64.00 and gave the company a “neutral” rating in a research report 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 price target on the stock in a research report on Tuesday, March 5th. Morgan Stanley raised their price target on shares of ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Wells Fargo & Company raised 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. Finally, UBS Group began coverage on shares of ONE Gas in a research report on Friday, April 12th. They issued a “sell” rating and a $61.00 price target on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.56.

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.