🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

One Gas stock hits 52-week high at $74.6 amid steady growth

Published 09/24/2024, 10:01 AM
OGS
-

In a market that often rewards the steadfast, One Gas Inc . (OGS) stock has reached a new 52-week high, touching $74.6. This peak reflects a solid trajectory over the past year, with the company's shares witnessing a modest yet stable increase of 1.64% in value. Investors have shown confidence in One Gas's consistent performance, even as the energy sector faces dynamic challenges and opportunities. The achievement of this 52-week high serves as a testament to the company's resilience and the strategic initiatives that have propelled its steady ascent in the market.


In other recent news, ONE Gas (NYSE:OGS) Inc. reported a strong first quarter performance for 2024, with net income reaching $99 million, driven by new rates and customer growth. The company also expanded its revolving credit facility by $75 million, bringing the total commitment to $1.275 billion. ONE Gas's board of directors has declared a quarterly dividend of 66 cents per share, in line with the previously indicated anticipation for the year 2024.

In analyst notes, Wells Fargo upgraded ONE Gas from Equal Weight to Overweight, projecting a long-term earnings per share growth rate of 5-7%. Meanwhile, Stifel maintained its hold rating but raised ONE Gas's price target to $71, following the company's second-quarter results. Mizuho also revised its price target for the company to $65, maintaining a neutral stance.

These are recent developments that reflect the company's strong financial performance and the confidence expressed by multiple analyst firms. Please note that the earnings estimates and projections come from analysts who have conducted thorough research and analysis of the company's potential.


InvestingPro Insights


As One Gas Inc. (OGS) celebrates its new 52-week high, investors may find additional insights from InvestingPro data and tips to be valuable. The company's market capitalization stands at a robust $4.21 billion, and it boasts a Price/Earnings (P/E) ratio of 18.74, reflecting investor confidence in the stock. Notably, One Gas has demonstrated a strong commitment to shareholder returns, having raised its dividend for 10 consecutive years—an InvestingPro Tip that underscores the company's financial discipline and stability.

Another InvestingPro Tip worth considering is that analysts have revised their earnings expectations upwards for the upcoming period, suggesting a positive outlook for the company's financial performance. In addition, One Gas has shown a strong return over the last three months, with a price total return of 22.33%. This performance is in line with the company's recent peak, highlighting its growth potential in the eyes of market watchers.

For those interested in further analysis and additional InvestingPro Tips, there are 7 more tips available that could provide deeper insights into One Gas's market position and future prospects.

Investors looking to get a comprehensive view of OGS's financial health and future potential can find more detailed information and analysis on the InvestingPro platform.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.