In a remarkable display of resilience and growth, One Gas Inc (NYSE:) stock has soared to a 52-week high, reaching a price level of $76.82. This impressive milestone underscores the company’s strong performance over the past year, which is further highlighted by an impressive 1-year change of 29.1%. Investors have shown increased confidence in One Gas, as the company continues to navigate the dynamic energy market, delivering value and robust returns to its shareholders. The 52-week high represents a significant achievement for One Gas, reflecting the culmination of strategic initiatives and a steadfast commitment to operational excellence.
In other recent news, ONE Gas Inc. has announced an increase in its 2024 earnings per share (EPS) guidance to $3.85-$3.95, despite a challenging market. This announcement came during the company’s recent third-quarter earnings call, where it reported a net income of $19.3 million, a decrease from the previous year’s $25.2 million. The company also maintained its capital expenditures at $750 million.
In regulatory developments, the Kansas rate case resulted in a $35 million revenue increase for ONE Gas, effective from November 1. Additionally, a Texas settlement is pending and expected to take effect in December. Despite higher interest expenses and labor costs leading to a decrease in net income, the company remains optimistic about its operational execution and customer growth.
ONE Gas also anticipates a 100 basis points reduction in interest rates by 2025. The company’s financial strategy is influenced by the Federal Reserve’s balance sheet normalization. These are among the recent developments for ONE Gas Inc., a company that continues to focus on long-term growth and shareholder value.
InvestingPro Insights
One Gas Inc’s (OGS) recent achievement of a 52-week high is further supported by data from InvestingPro. The stock’s impressive performance is reflected in its 1-year price total return of 33.94%, outpacing the 29.1% change mentioned in the article. This upward trajectory is bolstered by the company’s consistent dividend policy, with InvestingPro Tips highlighting that OGS has raised its dividend for 11 consecutive years, currently offering a dividend yield of 3.47%.
The company’s financial health appears robust, with a market capitalization of $4.34 billion and a P/E ratio of 19.98, suggesting a reasonable valuation relative to earnings. OGS’s revenue for the last twelve months stands at $2.06…
Click Here to Read the Full Original Article at All News…
