ONE Gas (NYSE:OGS) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

ONE Gas (NYSE:OGS) issued its quarterly earnings data on Monday. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07), Briefing.com reports. The company had revenue of $340.40 million for the quarter, compared to analysts’ expectations of $287.48 million. ONE Gas had a net margin of 10.83% and a return on equity of 8.04%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. ONE Gas updated its FY24 guidance to $3.85-$3.95 EPS and its FY 2024 guidance to 3.850-3.950 EPS.

ONE Gas Stock Performance

Shares of ONE Gas stock opened at $69.97 on Tuesday. ONE Gas has a 12 month low of $55.50 and a 12 month high of $74.99. The stock’s fifty day moving average price is $72.08 and its 200-day moving average price is $67.20. The firm has a market cap of $3.96 billion, a P/E ratio of 17.71, a P/E/G ratio of 3.63 and a beta of 0.67. The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OGS shares. Wells Fargo & Company raised their price target on ONE Gas from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com lowered ONE Gas from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ONE Gas has an average rating of “Hold” and an average price target of $68.30.

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.