ONE Gas (NYSE:OGS) Updates FY24 Earnings Guidance

ONE Gas (NYSE:OGS) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.85-$3.95 for the period, compared to the consensus EPS estimate of $3.87. ONE Gas also updated its FY 2024 guidance to 3.850-3.950 EPS.

Analyst Ratings Changes

A number of equities analysts have commented on OGS shares. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company lowered their price target on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of ONE Gas from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.10.

ONE Gas Trading Down 3.1 %

ONE Gas stock traded down $2.27 during trading hours on Thursday, reaching $72.07. The stock had a trading volume of 173,817 shares, compared to its average volume of 406,751. The company has a fifty day simple moving average of $72.24 and a 200-day simple moving average of $67.29. ONE Gas has a 52 week low of $55.50 and a 52 week high of $75.37. The stock has a market cap of $4.08 billion, a PE ratio of 19.36, a PEG ratio of 3.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.41 and a quick ratio of 0.32.

ONE Gas (NYSE:OGS) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $340.40 million for the quarter, compared to the consensus estimate of $287.48 million. ONE Gas had a net margin of 10.52% and a return on equity of 7.71%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Analysts forecast that ONE Gas will post 3.86 EPS for the current fiscal year.

ONE Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, November 19th. ONE Gas’s payout ratio is currently 68.75%.

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.