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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 Morgan Stanley Energy and Power Conference virtually on March 1, 2021, starting at 8 a.m. EST. Key executives, including Pierce H. Norton II and Caron Lawhorn, will engage with the investment community. Conference materials will be available on the company’s website that day. Based in Tulsa, Oklahoma, ONE Gas provides natural gas services to over 2 million customers in Kansas, Oklahoma, and Texas, and is included in the S&P MidCap 400 Index.
ONE Gas, Inc. (NYSE: OGS) reported its Q4 and full-year 2020 results, achieving diluted earnings per share of $1.09 and $3.68, respectively. The company faced challenges from a historic winter storm, impacting gas supply and pricing, leading to $2.2 billion in gas purchases in February. Despite these issues, Q4 net income grew to $58.3 million, aided by higher sales volumes and new rates. The company announced a dividend increase to 58 cents per share for Q1 2021. OGS aims for 2021 net income between $198 million to $210 million, with capital expenditures projected at $540 million.
ONE Gas (NYSE: OGS) will announce its fourth quarter and full year 2020 financial results on February 25, 2021, after market close. An earnings conference call is scheduled for February 26, 2021, at 11 a.m. EST, accessible via the ONE Gas website. Additionally, the company's 2021 Annual Meeting of Shareholders will take place on May 27, 2021, at 9 a.m. CDT. The record date for shareholder eligibility is March 30, 2021. ONE Gas serves over 2 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) has postponed its scheduled earnings release and conference call due to extreme weather conditions impacting its operational territories and disrupting natural gas markets. Despite this delay, the company confirms that its previously declared dividend on common stock will be paid on March 5, 2021. A new notice will outline the rescheduled earnings call date. ONE Gas operates as a regulated natural gas utility, serving over 2 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) will announce its fourth quarter and full year 2020 financial results on February 17, 2021, after market close. An earnings conference call is scheduled for the next day, February 18, 2021, at 11 a.m. Eastern Time. The company provides natural gas services to over 2 million customers across Kansas, Oklahoma, and Texas. It operates as a regulated utility and is part of the S&P MidCap 400 Index. The conference call can be accessed via phone or webcast, and a recording will be available afterward.
ONE Gas (NYSE: OGS) expects net income for 2021 between $198 million and $210 million, with earnings per share projected at $3.68 to $3.92. The updated 2020 guidance ranges from $3.66 to $3.70 per diluted share. The 2021 outlook considers new rates and customer growth, but anticipates rising operating expenses. Capital expenditures are estimated at $540 million for 2021, with plans for a total of $3.0 billion from 2021 to 2025. Average annual dividend growth is expected to be between 6% to 8% from 2020 to 2025.
ONE Gas, Inc. (NYSE: OGS) announced a dividend increase of 4 cents per share, raising the quarterly dividend to 58 cents, resulting in an annualized dividend of $2.32. The dividend is set to be paid on March 5, 2021, to shareholders on record by February 19, 2021. The company anticipates an average annual dividend increase of 6% to 8% from 2020 to 2025, targeting a payout ratio of 55% to 65% of net income, subject to board approval. ONE Gas is a regulated natural gas utility serving over 2 million customers across Kansas, Oklahoma, and Texas.
ONE Gas, Inc. (NYSE: OGS) announced its participation in the Wells Fargo Virtual Midstream & Utility Symposium scheduled for December 9, 2020. Key executives, including president Pierce H. Norton II and CFO Caron Lawhorn, will engage with the investment community during this event. As a regulated natural gas utility, ONE Gas serves over 2 million customers across Kansas, Oklahoma, and Texas. The company is part of the S&P MidCap 400 Index and is recognized as one of the largest natural gas utilities in the U.S. More information is available on their website.
ONE Gas, Inc. (NYSE: OGS) will participate in the Mizuho Virtual U.S. Utility Summit on December 1, 2020. Key executives, including president Pierce H. Norton II and CFO Caron Lawhorn, will engage with investors during this event. The materials from the conference will be available on the company's website. ONE Gas operates as a regulated natural gas utility, serving over 2 million customers across Kansas, Oklahoma, and Texas, and is included in the S&P MidCap 400 Index.
ONE Gas, Inc. (NYSE: OGS) reported its third quarter 2020 financial results, highlighting a net income of $21.1 million, or $0.39 per diluted share, an increase from $17.5 million, or $0.33 per diluted share a year ago. Year-to-date net income reached $138.1 million, or $2.59 per diluted share. The company updated its 2020 financial guidance, projecting net income between $186 million and $198 million and EPS from $3.44 to $3.68. A quarterly dividend of $0.54 per share was declared, payable Dec. 1, 2020.
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