ONE Gas, Inc. (NYSE:OGS) Expected to Earn Q2 2024 Earnings of $0.72 Per Share

ONE Gas, Inc. (NYSE:OGS) – Stock analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for shares of ONE Gas in a research note issued on Tuesday, August 29th. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings of $0.72 per share for the quarter, down from their previous estimate of $0.74. The consensus estimate for ONE Gas’ current full-year earnings is $4.13 per share. Zacks Research also issued estimates for ONE Gas’ Q3 2024 earnings at $0.42 EPS.

Several other equities analysts have also recently weighed in on OGS. Morgan Stanley lowered their target price on ONE Gas from $73.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Stifel Nicolaus lifted their target price on ONE Gas from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Tuesday, August 15th. StockNews.com started coverage on ONE Gas in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Guggenheim lowered their target price on ONE Gas from $77.00 to $73.00 in a research note on Friday, July 7th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, ONE Gas presently has an average rating of “Hold” and a consensus price target of $78.17.

ONE Gas Trading Down 2.0 %

NYSE:OGS opened at $72.48 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.40 and a quick ratio of 0.30. ONE Gas has a fifty-two week low of $68.86 and a fifty-two week high of $89.01. The stock’s 50-day moving average is $76.77 and its two-hundred day moving average is $78.69. The stock has a market cap of $4.02 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 3.61 and a beta of 0.65.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, July 31st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). ONE Gas had a return on equity of 8.75% and a net margin of 8.67%. The company had revenue of $398.11 million for the quarter, compared to analyst estimates of $397.88 million. During the same quarter in the previous year, the firm posted $0.59 EPS. ONE Gas’s quarterly revenue was down 7.2% on a year-over-year basis.

Institutional Investors Weigh In On ONE Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings in shares of ONE Gas by 4.5% during the first quarter. Mackenzie Financial Corp now owns 2,994 shares of the utilities provider’s stock worth $264,000 after buying an additional 128 shares during the last quarter. Advisor Partners II LLC lifted its holdings in shares of ONE Gas by 1.9% during the first quarter. Advisor Partners II LLC now owns 6,963 shares of the utilities provider’s stock worth $552,000 after buying an additional 128 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of ONE Gas by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 14,329 shares of the utilities provider’s stock worth $1,009,000 after buying an additional 138 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of ONE Gas by 0.5% during the third quarter. Captrust Financial Advisors now owns 29,561 shares of the utilities provider’s stock worth $2,081,000 after buying an additional 142 shares during the last quarter. Finally, Dearborn Partners LLC lifted its holdings in shares of ONE Gas by 1.9% during the second quarter. Dearborn Partners LLC now owns 7,934 shares of the utilities provider’s stock worth $609,000 after buying an additional 150 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

ONE Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 16th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $2.60 annualized dividend and a yield of 3.59%. ONE Gas’s dividend payout ratio (DPR) is currently 63.57%.

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.