ONE Gas (NYSE:OGS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

ONE Gas (NYSE:OGS) posted its quarterly earnings data on Monday. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01), Briefing.com reports. ONE Gas had a return on equity of 8.37% and a net margin of 10.86%. The company had revenue of $354.14 million for the quarter, compared to the consensus estimate of $362.06 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The business’s revenue was down 11.0% on a year-over-year basis. ONE Gas updated its FY24 guidance to $3.70-4.00 EPS.

ONE Gas Trading Down 0.7 %

NYSE:OGS opened at $66.12 on Wednesday. ONE Gas has a one year low of $55.50 and a one year high of $78.03. The business has a fifty day moving average price of $64.18 and a 200-day moving average price of $62.95. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth 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.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, August 14th. ONE Gas’s dividend payout ratio (DPR) is 65.19%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OGS. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Mizuho raised their target price on ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. UBS Group initiated coverage on ONE Gas in a report on Friday, April 12th. They set a “sell” rating and a $61.00 price target on the stock. Finally, 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. Three equities research 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’s stock. Based on data from MarketBeat, ONE Gas currently has a consensus rating of “Hold” and a consensus price target of $64.69.

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.