ONE Gas (NYSE:OGS) Posts Earnings Results, Misses Expectations By $0.03 EPS

ONE Gas (NYSE:OGS) issued its quarterly 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. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The company had revenue of $758.32 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm posted $1.84 earnings per share. ONE Gas’s quarterly revenue was down 26.5% compared to the same quarter last year. 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 Down 0.6 %

Shares of NYSE OGS opened at $65.08 on Tuesday. The business has a 50-day simple moving average of $62.94 and a two-hundred day simple moving average of $62.00. ONE Gas has a 52 week low of $55.50 and a 52 week high of $83.89. The company has a market cap of $3.68 billion, a P/E ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 0.65. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

A number of research firms have weighed in on OGS. Wells Fargo & Company boosted their target price on shares of ONE Gas from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. UBS Group assumed coverage on ONE Gas in a report on Friday, April 12th. They set a “sell” rating and a $61.00 price objective for the company. LADENBURG THALM/SH SH upgraded ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 target price on the stock in a research note on Tuesday, March 5th. Morgan Stanley increased their price target on ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, Mizuho boosted their price objective on ONE Gas from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Three equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.56.

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.