ONE Gas (NYSE:OGS) Issues FY22 Earnings Guidance

ONE Gas (NYSE:OGSGet Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.96-$4.20 for the period, compared to the consensus EPS estimate of $4.08. ONE Gas also updated its FY 2022 guidance to $3.96-$4.20 EPS.

ONE Gas Stock Performance

Shares of NYSE:OGS traded down $1.97 on Friday, hitting $77.87. The company had a trading volume of 7,370 shares, compared to its average volume of 240,048. ONE Gas has a 1-year low of $62.52 and a 1-year high of $92.26. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 3.88 and a beta of 0.55. The stock has a 50 day moving average price of $81.25 and a 200 day moving average price of $83.72. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.93.

ONE Gas (NYSE:OGSGet Rating) last announced its earnings results on Monday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The business had revenue of $428.98 million during the quarter, compared to the consensus estimate of $328.48 million. ONE Gas had a net margin of 9.34% and a return on equity of 8.85%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. Analysts expect that ONE Gas will post 4.07 EPS for the current year.

ONE Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.18%. ONE Gas’s payout ratio is presently 63.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OGS. Mizuho reduced their target price on shares of ONE Gas from $92.00 to $90.00 and set a neutral rating for the company in a research report on Wednesday, August 3rd. StockNews.com raised shares of ONE Gas from a sell rating to a hold rating in a research report on Wednesday, August 10th. Wells Fargo & Company cut their price objective on shares of ONE Gas from $98.00 to $90.00 and set an overweight rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their price objective on shares of ONE Gas from $89.00 to $87.00 and set an equal weight rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $87.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OGS. Verition Fund Management LLC acquired a new position in shares of ONE Gas in the first quarter valued at approximately $609,000. Geneos Wealth Management Inc. increased its stake in shares of ONE Gas by 4.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,975 shares of the utilities provider’s stock valued at $527,000 after buying an additional 261 shares during the period. Toroso Investments LLC acquired a new position in shares of ONE Gas in the first quarter valued at approximately $475,000. Centiva Capital LP acquired a new position in shares of ONE Gas in the second quarter valued at approximately $422,000. Finally, AlphaCrest Capital Management LLC increased its stake in shares of ONE Gas by 34.8% in the first quarter. AlphaCrest Capital Management LLC now owns 4,448 shares of the utilities provider’s stock valued at $392,000 after buying an additional 1,148 shares during the period. Institutional investors own 83.60% of the company’s stock.

About ONE Gas

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ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states.

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Earnings History and Estimates for ONE Gas (NYSE:OGS)

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