ONE Gas (NYSE:OGS) Shares Gap Down on Disappointing Earnings

ONE Gas, Inc. (NYSE:OGS) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $65.09, but opened at $62.45. ONE Gas shares last traded at $63.53, with a volume of 23,941 shares changing hands.

The utilities provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.03). ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. The business had revenue of $758.32 million for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The business’s revenue was down 26.5% on a year-over-year basis.

ONE Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a dividend of $0.66 per share. The ex-dividend date is Friday, May 17th. This represents a $2.64 annualized dividend and a dividend yield of 4.07%. ONE Gas’s payout ratio is currently 63.77%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Morgan Stanley boosted their price target on shares of ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Mizuho raised their price objective on ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. LADENBURG THALM/SH SH raised ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 target price for the company in a research note on Tuesday, March 5th. Finally, UBS Group initiated 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 given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.56.

Hedge Funds Weigh In On ONE Gas

Several hedge funds have recently made changes to their positions in OGS. Fifth Third Bancorp increased its position in shares of ONE Gas by 66.3% in the first quarter. Fifth Third Bancorp now owns 424 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 169 shares during the last quarter. Arizona State Retirement System raised its stake in shares of ONE Gas by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 15,771 shares of the utilities provider’s stock worth $1,077,000 after purchasing an additional 213 shares in the last quarter. GW Henssler & Associates Ltd. boosted its holdings in shares of ONE Gas by 7.4% in the 1st quarter. GW Henssler & Associates Ltd. now owns 3,442 shares of the utilities provider’s stock valued at $222,000 after buying an additional 237 shares during the last quarter. Blair William & Co. IL grew its stake in shares of ONE Gas by 8.4% in the third quarter. Blair William & Co. IL now owns 3,080 shares of the utilities provider’s stock valued at $210,000 after buying an additional 238 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in ONE Gas by 2.3% during the first quarter. State of Michigan Retirement System now owns 13,604 shares of the utilities provider’s stock worth $878,000 after buying an additional 300 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

ONE Gas Price Performance

The stock has a market capitalization of $3.67 billion, a P/E ratio of 15.66, 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 current ratio of 0.52 and a quick ratio of 0.39. The company’s 50-day simple moving average is $63.05 and its 200-day simple moving average is $61.99.

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.