Zacks: Brokerages Anticipate ONE Gas, Inc. (OGS) Will Post Quarterly Sales of $242.75 Million
Wall Street brokerages predict that ONE Gas, Inc. (NYSE:OGS) will post sales of $242.75 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for ONE Gas’ earnings, with estimates ranging from $237.20 million to $248.30 million. ONE Gas reported sales of $232.19 million during the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The company is expected to issue its next earnings report after the market closes on Monday, October 30th.
On average, analysts expect that ONE Gas will report full-year sales of $242.75 million for the current financial year, with estimates ranging from $1.47 billion to $1.52 billion. For the next financial year, analysts forecast that the firm will post sales of $1.54 billion per share, with estimates ranging from $1.50 billion to $1.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for ONE Gas.
ONE Gas (NYSE:OGS) last announced its quarterly earnings results on Monday, July 31st. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $279.69 million for the quarter, compared to analyst estimates of $257.87 million. ONE Gas had a net margin of 10.12% and a return on equity of 7.98%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share.
OGS has been the topic of a number of research reports. Morgan Stanley increased their price objective on ONE Gas from $68.00 to $72.00 and gave the stock an “underperform” rating in a report on Thursday, August 10th. UBS AG downgraded ONE Gas from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $71.00 to $72.00 in a report on Monday. BidaskClub downgraded ONE Gas from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “sell” rating and issued a $62.00 price objective on shares of ONE Gas in a report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. ONE Gas presently has an average rating of “Hold” and a consensus price target of $67.50.
ONE Gas (OGS) opened at 74.31 on Friday. The firm’s 50-day moving average is $74.66 and its 200-day moving average is $71.33. ONE Gas has a 12 month low of $55.98 and a 12 month high of $76.06. The firm has a market capitalization of $3.88 billion, a PE ratio of 25.89 and a beta of 0.10.
A number of hedge funds have recently made changes to their positions in OGS. Independent Portfolio Consultants Inc. acquired a new position in ONE Gas during the second quarter valued at approximately $158,000. Heritage Trust Co grew its holdings in ONE Gas by 41.4% during the second quarter. Heritage Trust Co now owns 2,323 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 680 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ONE Gas by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,468 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 139 shares during the last quarter. D.A. Davidson & CO. grew its holdings in ONE Gas by 1,953.3% during the second quarter. D.A. Davidson & CO. now owns 2,505 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 2,383 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in ONE Gas during the second quarter valued at approximately $200,000. Institutional investors own 73.10% of the company’s stock.
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About ONE Gas
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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