Zacks: Analysts Expect ONE Gas Inc (OGS) Will Post Quarterly Sales of $635.80 Million
Brokerages expect ONE Gas Inc (NYSE:OGS) to post $635.80 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for ONE Gas’ earnings. The highest sales estimate is $666.60 million and the lowest is $605.00 million. ONE Gas reported sales of $638.46 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The company is expected to report its next earnings results on Monday, April 29th.
According to Zacks, analysts expect that ONE Gas will report full-year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.57 billion to $1.70 billion. For the next financial year, analysts forecast that the firm will post sales of $1.70 billion, with estimates ranging from $1.61 billion to $1.77 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ONE Gas.
ONE Gas (NYSE:OGS) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The business had revenue of $464.47 million for the quarter, compared to analysts’ expectations of $443.39 million. ONE Gas had a return on equity of 8.50% and a net margin of 10.54%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS.
In other news, Director Eduardo A. Rodriguez sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $89.04, for a total value of $44,520.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.62% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Magellan Asset Management Ltd lifted its position in ONE Gas by 0.6% during the fourth quarter. Magellan Asset Management Ltd now owns 38,024 shares of the utilities provider’s stock worth $3,027,000 after buying an additional 212 shares in the last quarter. Geode Capital Management LLC lifted its position in ONE Gas by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 566,147 shares of the utilities provider’s stock worth $45,065,000 after buying an additional 51,508 shares in the last quarter. Norges Bank purchased a new position in ONE Gas during the fourth quarter worth approximately $30,453,000. FMR LLC lifted its position in ONE Gas by 3.2% during the fourth quarter. FMR LLC now owns 378,016 shares of the utilities provider’s stock worth $30,090,000 after buying an additional 11,729 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in ONE Gas by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 28,300 shares of the utilities provider’s stock worth $2,253,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.
OGS stock traded up $1.07 during mid-day trading on Thursday, reaching $89.45. 170,010 shares of the company’s stock were exchanged, compared to its average volume of 234,791. The company has a market capitalization of $4.64 billion, a P/E ratio of 27.52, a P/E/G ratio of 4.41 and a beta of 0.37. The company has a current ratio of 0.78, a quick ratio of 0.62 and a debt-to-equity ratio of 0.63. ONE Gas has a 12-month low of $63.45 and a 12-month high of $89.93.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, February 21st. This is an increase from ONE Gas’s previous quarterly dividend of $0.46. ONE Gas’s dividend payout ratio (DPR) is 61.54%.
About ONE Gas
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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