Welcome to our dedicated page for ONE GAS news (Ticker: OGS), a resource for investors and traders seeking the latest updates and insights on ONE GAS stock.
ONE Gas, Inc. (NYSE: OGS) is a publicly traded, fully regulated natural gas utility company that operates in the states of Oklahoma, Kansas, and Texas. Headquartered in Tulsa, Oklahoma, the company provides natural gas distribution services to more than 2.3 million residential, commercial, industrial, and transportation customers. This makes ONE Gas one of the largest natural gas utilities in the United States.
Core Operations: ONE Gas primarily focuses on the distribution and sale of natural gas through an extensive network of pipelines and service lines. The company operates under three main divisions: Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas in terms of customers.
Financial Highlights: For the third quarter of 2023, ONE Gas reported operating income of $57.2 million, an increase from $47.1 million in the third quarter of 2022. The net income increase was primarily driven by higher sales volumes and improved operational efficiency. The company also narrowed its 2023 earnings guidance, expecting net income between $227 million to $236 million.
Recent Achievements: In September 2023, ONE Gas successfully priced its public offering of 1,200,000 shares, with an option for the underwriter to purchase an additional 180,000 shares. This offering is expected to generate gross proceeds of approximately $88.8 million. The company entered into a forward sale agreement with Bank of America, N.A., as the forward purchaser.
Projects and Investments: ONE Gas continues to invest in infrastructure to ensure system integrity and expand its service areas. In 2023, capital expenditures and asset removal costs amounted to $728.7 million. The company is also involved in regulatory activities, such as the renewable natural gas (RNG) Pilot Program in Oklahoma, which was approved in November 2023, and various rate filings across its service areas.
Partnerships and Market Position: ONE Gas holds significant market shares in Oklahoma and Kansas, making it a key player in the regional energy market. The company is also included in the S&P MidCap 400 Index, reflecting its stable financial performance and market presence.
Future Outlook: Looking ahead to 2024, ONE Gas expects net income to be in the range of $214 million to $231 million. The company plans to continue its focus on system reinforcements and expanding its capabilities to meet growing customer demand, with capital investments projected at approximately $750 million.
For more detailed and updated information, please visit their official website and follow their social media channels: @ONEGas on Facebook, LinkedIn, and YouTube.
ONE Gas (NYSE: OGS) has released its 2025 financial guidance and updated five-year growth projections. The company expects 2025 net income between $254-261 million, with earnings per diluted share of $4.20-$4.32. Capital investments for 2025 are projected at $750 million, including $180 million for new customer extensions.
For the five-year period through 2029, ONE Gas anticipates capital investments of $4.0 billion, with average rate base growth of 7-9% annually. The company projects net income growth of 7-9% and diluted EPS growth of 4-6%. Operating costs are expected to increase by 4% annually, with total financing needs of $1.5 billion through 2029, of which 40% will be equity. The company targets a dividend payout ratio of 55-65% with 1-2% annual dividend growth.
ONE Gas (NYSE: OGS) announced its participation in three upcoming utility conferences in December 2024. The company will attend the Jefferies Gas Utilities Mini-Conference virtually on Dec. 9, the Mizuho Power, Energy & Infrastructure Conference in New York City, and the Wells Fargo Midstream, Energy & Utilities Symposium on Dec. 11. Key executives, including CEO Robert McAnnally, CFO Christopher Sighinolfi, and COO Curtis Dinan, will meet with investment community members.
ONE Gas, a fully regulated natural gas utility serving over 2.3 million customers across Kansas, Oklahoma, and Texas, will make conference materials available on their website from Dec. 6. The company operates through Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service divisions.
ONE Gas (NYSE: OGS) reported Q3 2024 net income of $19.3 million ($0.34 per diluted share), down from $25.2 million ($0.45 per share) in Q3 2023. Year-to-date net income was $145.8 million ($2.56 per share), compared to $160.5 million ($2.87 per share) last year. The company increased its 2024 EPS guidance to $3.85-$3.95 from $3.70-$4.00 previously.
Operating income rose to $59.5 million in Q3 2024 from $57.2 million in Q3 2023, primarily due to a $17.5 million increase from new rates. The company expanded its credit agreement and commercial paper program capacity to $1.35 billion each and issued an additional $250 million in senior notes.
ONE Gas (NYSE: OGS) has announced its third quarter 2024 financial results release and conference call schedule. The company will release its Q3 2024 results after market close on November 4, 2024. A conference call and webcast will follow on November 5, 2024, at 11 a.m. Eastern Standard Time.
Investors can access the call by dialing 833-470-1428 (pass code: 002088) or via webcast on the ONE Gas website. A replay will be available for 30 days on the company's website and by phone for seven days (866-813-9403, pass code: 631642).
ONE Gas is a 100-percent regulated natural gas utility serving over 2.3 million customers in Kansas, Oklahoma, and Texas. It is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.
ONE Gas (NYSE: OGS) reported its second quarter 2024 financial results and reaffirmed its 2024 guidance. Key highlights include:
- Q2 2024 net income of $27.3 million ($0.48 per diluted share), compared to $32.7 million ($0.58 per diluted share) in Q2 2023
- Year-to-date 2024 net income of $126.6 million ($2.23 per diluted share), compared to $135.3 million ($2.42 per diluted share) in the same period last year
- Operating income increased to $69.4 million in Q2 2024 from $64.0 million in Q2 2023
- Capital expenditures and asset removal costs were $194.6 million for Q2 2024
The company reaffirmed its 2024 net income guidance range of $214 million to $231 million, or $3.70 to $4.00 per diluted share. Capital expenditures for 2024 are expected to be approximately $750 million.
ONE Gas (NYSE: OGS) has declared a quarterly dividend of 66 cents per share of common stock, payable on Aug. 30, 2024, to shareholders of record as of Aug. 14, 2024. The company previously announced its expectation to maintain this quarterly dividend throughout 2024, resulting in an annualized dividend of $2.64 per share. ONE Gas projects an average annual dividend growth of 1% to 2% through 2028, with a target dividend payout ratio of 55% to 65% of net income, subject to board approval. As a 100% regulated natural gas utility, ONE Gas serves over 2.3 million customers across Kansas, Oklahoma, and Texas, and is included in the S&P MidCap 400 Index.
ONE Gas has appointed Yves C. Siegel and Sanjay D. Meshri to its board of directors, effective July 2, 2024. This addition brings the total number of board members to nine. Siegel, an experienced investment strategist, and Meshri, a seasoned leader in chemical research and operations, are expected to enhance the company's focus on safety, operational, and financial performance.
ONE Gas (NYSE: OGS) will release its second quarter 2024 financial results after the market closes on August 5, 2024.
The executive management team will host a conference call and webcast on August 6, 2024, at 11 a.m. EDT to discuss the results.
The call will be accessible via phone (833-470-1428, pass code 221538) and the ONE Gas website.
A replay will be available on the website for 30 days and by phone for seven days (866-813-9403, pass code 629830).
ONE Gas, a regulated natural gas utility serving over 2.3 million customers in Kansas, Oklahoma, and Texas, is included in the S&P MidCap 400 Index.
ONE Gas has published its annual Sustainability Report for 2023, highlighting its dedication to safety, environmental stewardship, and inclusive work culture. According to Robert S. McAnnally, CEO of ONE Gas, the company plays a vital role in a sustainable energy future, serving 2.3 million customers as one of the largest natural gas distributors in the U.S.
The report notes key achievements, including recognition from the American Gas Association for the seventh consecutive year for having the fewest severe injury incidents among mega-sized natural gas distributors. ONE Gas has reduced CO2e emissions by 50% since 2005 and aims to achieve a 55% reduction in Scope 1 emissions by 2035. In terms of inclusivity, 59% of new hires in 2023 were women or individuals from historically underrepresented groups, and the company was acknowledged by the Disability Equity Index as a top workplace for disability inclusion. Additionally, ONE Gas contributed $3.4 million to community initiatives.
ONE Gas (NYSE: OGS) announced its participation in the Mizuho Mid-Cap Utilities Conference on June 3, 2024, in New York City. CEO Robert S. McAnnally and CFO Christopher Sighinolfi will meet with the investment community. Conference materials will be available on the ONE Gas website starting at 8 a.m. Eastern Daylight Time. ONE Gas, a regulated natural gas utility, serves over 2.3 million customers across Kansas, Oklahoma, and Texas. It is listed on the NYSE and included in the S&P MidCap 400 Index.
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