ONE Gas (NYSE:OGS) Releases FY24 Earnings Guidance

ONE Gas (NYSE:OGS) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.70-4.00 for the period, compared to the consensus estimate of $3.86. ONE Gas also updated its FY 2024 guidance to 3.700-4.000 EPS.

ONE Gas Stock Down 0.9 %

Shares of NYSE:OGS traded down $0.59 during trading on Tuesday, reaching $64.50. 140,025 shares of the company traded hands, compared to its average volume of 413,552. The firm has a market cap of $3.65 billion, a P/E ratio of 15.28, a price-to-earnings-growth 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. ONE Gas has a 1-year low of $55.50 and a 1-year high of $83.89. The firm has a fifty day simple moving average of $62.94 and a 200 day simple moving average of $62.00.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, May 6th. The utilities provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). The firm had revenue of $758.32 million for the quarter, compared to the consensus estimate of $1.05 billion. ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. ONE Gas’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Analysts anticipate that ONE Gas will post 3.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on OGS. LADENBURG THALM/SH SH raised ONE Gas from a neutral rating to a buy rating and set a $64.50 price target on the stock in a research note on Tuesday, March 5th. Mizuho increased their price objective on shares of ONE Gas from $63.00 to $64.00 and gave the company a neutral rating in a report on Friday, April 19th. Morgan Stanley increased their price target on shares of ONE Gas from $57.00 to $58.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Wells Fargo & Company raised their price objective on shares of 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 research report on Friday, April 12th. They set a sell rating and a $61.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average 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.