ONE Gas (NYSE:OGS) Issues Earnings Results, Misses Estimates By $0.03 EPS

ONE Gas (NYSE:OGS) posted its quarterly earnings data on Monday. The utilities provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03), Briefing.com reports. The firm had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. ONE Gas’s revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the company 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 Trading Down 0.6 %

NYSE:OGS opened at $65.08 on Tuesday. The business’s 50-day simple moving average is $62.94 and its 200 day simple moving average is $62.00. ONE Gas has a one year low of $55.50 and a one year high of $83.89. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.39 and a current ratio of 0.52.

Analysts Set New Price Targets

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