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, Inc. (NYSE: OGS) announced its participation in the American Gas Association Financial Forum scheduled for May 21-22, 2023, in Fort Lauderdale, Florida. Key executives, including President Robert S. McAnnally and CFO Caron Lawhorn, will engage in meetings with the investment community.
Conference materials will be available on the ONE Gas website by May 19, 2023, after market close. As a 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. The company is headquartered in Tulsa, Oklahoma, and operates three divisions: Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service.
ONE Gas, Inc. (NYSE: OGS) will announce its first quarter financial results on May 1, 2023, after market close. A conference call for investors will follow on May 2, 2023, at 11 a.m. EDT. The call can be accessed via their website and will also be available for replay for 30 days. ONE Gas is a regulated natural gas utility serving over 2.3 million customers across Kansas, Oklahoma, and Texas. As a component of the S&P MidCap 400 Index, it holds a significant position in the U.S. natural gas market.
ONE Gas (NYSE: OGS) announced the pricing of a public offering of 2,000,000 shares of common stock, generating approximately $153.8 million in gross proceeds. The offering is linked to a forward sale agreement with Bank of America, who will sell the stocks on behalf of ONE Gas. An additional 300,000 shares may also be offered if underwriter options are exercised. The offering's completion is anticipated on March 13, 2023, with settlement for most shares expected by December 29, 2023, and the remainder by December 31, 2024. Proceeds are intended for general corporate purposes, including debt repayment and capital expenditures.
ONE Gas plans a public offering of 2,000,000 shares of its common stock, with an option for underwriters to purchase an additional 300,000 shares. The offering will be conducted through a forward sale agreement with Bank of America. Settlement of the forward sale is anticipated by December 29, 2023, for 1,400,000 shares, with the remainder by December 31, 2024. While the company won't initially receive proceeds from the forward sale, it intends to use any net proceeds for general corporate purposes, including debt repayment, capital expenditures, and investments.
ONE Gas, Inc. (NYSE: OGS) has announced that its 2023 Annual Meeting of Shareholders will take place virtually on May 25, 2023, at 9 a.m. CDT. Shareholders are required to register to attend and the meeting will be webcasted live on the ONE Gas website. The record date for determining shareholders eligible to vote is March 27, 2023. ONE Gas operates as a regulated natural gas utility, serving over 2.3 million customers across Kansas, Oklahoma, and Texas. It is a component of the S&P MidCap 400 Index and is one of the largest natural gas utilities in the U.S.
ONE Gas, Inc. (NYSE: OGS) announced its fourth quarter and full year 2022 financial results, reporting diluted earnings per share of $1.23 and $4.08, respectively. Net income for Q4 2022 was $67.0 million, an increase from $60.5 million in Q4 2021. For the full year, net income rose to $221.7 million from $206.4 million in 2021. Capital expenditures reached $656.5 million, up from $544.3 million in the prior year. NOTABLE MOVES include a 3-cent dividend increase to 65 cents per share, effective March 10, 2023. The company also provided 2023 guidance, anticipating net income between $224 million and $238 million.
ONE Gas, Inc. (NYSE: OGS) announced its participation in two major conferences: the Morgan Stanley Global Energy and Power Conference on February 27, 2023, in New York City, and the BofA Securities Power, Utilities and Clean Energy Conference on March 1, 2023, in Boston, Massachusetts. Key executives, including Robert S. McAnnally and Caron Lawhorn, will engage with investors during these events.
Materials for the conferences will be available on the ONE Gas website starting February 27, 2023, at 8 a.m. EST. ONE Gas is a prominent U.S. natural gas utility, providing services to over 2.3 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) will announce its fourth quarter and full year 2022 financial results after market close on February 22, 2023. The executive team will host a conference call on February 23, 2023, at 11 a.m. EST, to discuss the report. The earnings news release for the first quarter is set for May 1, 2023, with a call on May 2, 2023. Subsequent earnings releases on July 31 and October 30, 2023 will follow the same schedule. 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 (NYSE: OGS) announced a dividend increase of 3 cents per share for Q1 2023, bringing the total to 65 cents per share, resulting in an annualized dividend of $2.60. The dividend is payable on March 10, 2023, to shareholders of record by February 24, 2023. The company forecasts an annual dividend growth of 4% to 6% until 2027, with a target payout ratio of 55%-65% of net income. Additionally, ONE Gas narrowed its 2022 earnings guidance to a range of $4.06 to $4.10 per diluted share, translating to net income expectations between $221 million and $223 million, alongside roughly $655 million in capital investments.
ONE Gas, Inc. (NYSE: OGS) will participate in the BofA Securities Gas Utility Conference on Dec. 5, 2022, and the Wells Fargo Midstream, Utilities, & Renewable Power Symposium on Dec. 7, 2022, both in New York City. Key executives, including President Robert S. McAnnally and CFO Caron Lawhorn, will meet with investors at these events. Conference materials will be available on the ONE Gas website starting at 8 a.m. EST on Dec. 5. ONE Gas serves over 2.3 million customers across Kansas, Oklahoma, and Texas.
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