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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) will participate in the BofA Securities Gas Utility Conference on December 7, 2021. Key executives including Robert S. McAnnally, Caron Lawhorn, and Curtis Dinan will conduct virtual meetings with investors. The conference materials will be available on the ONE Gas website. Based in Tulsa, Oklahoma, ONE Gas serves over 2.2 million customers across Kansas, Oklahoma, and Texas, making it one of the largest natural gas utilities in the U.S.
ONE Gas, Inc. (NYSE: OGS) has announced its participation in the virtual Mizuho U.S. Utility Summit on November 30, 2021. Key executives, including CEO Robert S. McAnnally, CFO Caron Lawhorn, and COO Curtis Dinan, will engage in virtual meetings with investors.
Presentation materials will be available on the company’s website after market close on November 29, 2021. ONE Gas serves over 2.2 million customers across Kansas, Oklahoma, and Texas, making it one of the largest natural gas utilities in the U.S.
American Home Solutions, part of American Water’s Homeowner Services Group, has partnered with ONE Gas to launch home warranty protection programs for homeowners and renters in Texas and Oklahoma. This agreement aims to protect customers from unexpected repair costs associated with utility service lines and HVAC systems. Eric Palm, President of Homeowner Services, highlighted the limited coverage of standard insurance policies, while Chris Sighinolfi of ONE Gas emphasized the convenience of this partnership for customers. Educational resources about the programs will be sent to eligible households.
ONE Gas, Inc. (NYSE: OGS) reported a net income of $20.3 million, or $0.38 per diluted share for Q3 2021, a slight decline from $21.1 million or $0.39 per share in Q3 2020. Year-to-date net income reached $145.9 million, or $2.72 per diluted share, up from $138.1 million, or $2.59 per share the previous year. The company redeemed $400 million of senior notes and declared a $0.58 quarterly dividend, payable on Dec. 1, 2021. The results reflect customer growth and new rates, alongside an ESG report emphasizing its commitment to cleaner energy.
ONE Gas, Inc. (NYSE: OGS) will announce its third quarter 2021 earnings on November 1, 2021, post-market. A conference call is set for November 2, 2021, at 11 a.m. EDT. ONE Gas, headquartered in Tulsa, Oklahoma, serves over 2.2 million customers across Kansas, Oklahoma, and Texas. The company operates as a regulated natural gas utility and is part of the S&P MidCap 400 Index. For those who cannot attend the call, a replay will be available for 30 days on the company's website.
ONE Gas, Inc. (NYSE: OGS) reported a strong second quarter 2021 with net income increasing to $30.1 million ($0.56 per share), up from $25.3 million ($0.48 per share) in Q2 2020. Year-to-date net income rose to $125.7 million ($2.35 per share) versus $117.0 million ($2.20 per share) last year. The company reaffirmed its 2021 guidance, expecting net income between $198 million and $210 million. Operating costs increased slightly, while capital expenditures were $129.4 million in Q2. Regulatory actions on Winter Storm Uri costs are underway in all operating states.
ONE Gas, Inc. (NYSE: OGS) has declared a quarterly dividend of 58 cents per share, payable on Sept. 1, 2021, to shareholders of record by Aug. 13, 2021. This aligns with the annual dividend expectation of $2.32 per share for 2021, with a projected growth rate of 6% to 8% through 2025. The company maintains a target payout ratio of 55% to 65% of net income, depending on board approval. Operating as a wholly regulated natural gas utility, ONE Gas serves over 2.2 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) will announce its second quarter 2021 earnings on August 2, 2021, after market close. The executive team will host a conference call on August 3, 2021, at 11 a.m. EDT. The call, available live on the ONE Gas website, will offer insights into the company's financial performance.
ONE Gas serves over 2.2 million customers across Kansas, Oklahoma, and Texas. It operates divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service, making it a major player in the natural gas utility sector.
ONE Gas announces Robert S. McAnnally as the new president and CEO, effective June 28, 2021, succeeding Pierce H. Norton II. McAnnally, who has been with the company for six years, was previously COO and will also join the Board of Directors. Curtis L. Dinan will take over McAnnally's role as COO. This transition follows an ongoing succession planning process aimed at maintaining operational and financial performance. ONE Gas provides service to over 2.2 million customers across Kansas, Oklahoma, and Texas and is a leading natural gas utility in the U.S.
ONE Gas, Inc. (NYSE: OGS) announced the retirement of its president and CEO, Pierce H Norton II, effective June 27, 2021. Following his departure, Norton will become the CEO of ONEOK Inc. (NYSE: OKE) on June 28, 2021. The Corporate Governance Committee is actively working to recommend Norton's successor. Since its formation in 2014, ONE Gas has developed a culture focused on stakeholder value and is recognized as one of the largest natural gas utilities in the U.S., serving over 2.2 million customers in Kansas, Oklahoma, and Texas.
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