ONE Gas (NYSE:OGS) Issues Earnings Results

ONE Gas (NYSE:OGS) announced 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. The company had revenue of $758.32 million for the quarter, compared to analysts’ expectations of $1.05 billion. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. ONE Gas’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. 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 Performance

OGS opened at $65.08 on Tuesday. The company has a 50 day simple moving average of $62.94 and a two-hundred day simple moving average of $62.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.52 and a quick ratio of 0.39. The firm has a market cap of $3.68 billion, a P/E ratio of 15.72, a PEG ratio of 3.39 and a beta of 0.65. ONE Gas has a 1-year low of $55.50 and a 1-year high of $83.89.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OGS. Morgan Stanley upped their price objective on ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. LADENBURG THALM/SH SH raised shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price target for the company in a research report on Tuesday, March 5th. Mizuho raised their price objective on shares of ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Wells Fargo & Company upped their target price on shares of ONE Gas from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Finally, UBS Group started coverage on shares of ONE Gas in a research note on Friday, April 12th. They set 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.