ONE Gas (NYSE:OGS) Updates FY24 Earnings Guidance

ONE Gas (NYSE:OGS) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.70-4.00 for the period, compared to the consensus earnings per share estimate of $3.84.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OGS. StockNews.com downgraded ONE Gas from a hold rating to a sell rating in a report on Saturday, July 20th. Mizuho upped their price objective on ONE Gas from $64.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. Morgan Stanley dropped their price objective on ONE Gas from $61.00 to $58.00 and set an equal weight rating for the company in a report on Monday, June 24th. Finally, UBS Group assumed coverage on ONE Gas in a report on Friday, April 12th. They set a sell rating and a $61.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $64.69.

ONE Gas Stock Down 3.6 %

NYSE OGS traded down $2.50 during trading hours on Monday, hitting $66.57. The company had a trading volume of 522,903 shares, compared to its average volume of 435,311. ONE Gas has a fifty-two week low of $55.50 and a fifty-two week high of $78.03. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.39. The firm’s 50 day moving average is $63.91 and its 200 day moving average is $62.84.

ONE Gas (NYSE:OGS) last announced its earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). The business had revenue of $758.32 million for the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a net margin of 10.86% and a return on equity of 8.37%. The firm’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Sell-side analysts anticipate that ONE Gas will post 3.85 earnings per share for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.64 annualized dividend and a dividend yield of 3.97%. ONE Gas’s dividend payout ratio is presently 65.19%.

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.