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ONE Gas ( (OGS) ) just unveiled an announcement.
ONE Gas reported first-quarter 2026 net income of $128.7 million, or $2.04 per diluted share, up from $119.4 million a year earlier, with adjusted net income rising to $133.4 million despite a winter that was more than 20% warmer than normal. Operating income increased to $189.6 million, driven mainly by $27.3 million in new rates that offset higher employee and service costs and lower volumes, while capital expenditures fell slightly to $169.6 million as the utility continued to prioritize system integrity and service extensions.
The company affirmed its 2026 financial guidance, maintaining expectations for net income of $294 million to $302 million and adjusted net income of $306 million to $314 million, alongside targeted long-term GAAP and adjusted net income growth of 7% to 9%. On May 4, 2026, the board declared a quarterly dividend of $0.68 per share, payable June 2 to shareholders of record on May 18, and regulatory developments in Kansas, Texas and Oklahoma positioned ONE Gas to recover broader infrastructure investments and pursue incremental revenue through surcharge and rate mechanisms.
The most recent analyst rating on (OGS) stock is a Buy with a $94.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
Spark’s Take on OGS Stock
According to Spark, TipRanks’ AI Analyst, OGS is a Outperform.
The score is driven by strong technical trend and a positive earnings-call outlook (higher 2026 guidance and reiterated long-term growth), supported by a reasonable valuation with a ~3.1% yield. The main limiter is financial performance, where recurring negative free cash flow in the last two years weakens cash-quality despite improved leverage in 2025.
To see Spark’s full report on OGS stock, click here.
More about ONE Gas
ONE Gas, Inc. is a fully regulated natural gas utility and one of the largest in the United States, trading on the New York Stock Exchange and NYSE Texas under the symbol OGS. Headquartered in Tulsa, Oklahoma, it serves more than 2.3 million customers across Kansas, Oklahoma and Texas through its Kansas Gas Service, Oklahoma Natural Gas and Texas Gas Service divisions, each a leading distributor in its respective state.
The company focuses on providing reliable and affordable natural gas service, with capital investments largely directed to system integrity and network extensions. It is included in the S&P MidCap 400 Index, underscoring its significance in the mid-cap utility segment and its role as a key regional energy provider.
Average Trading Volume: 468,426
Technical Sentiment Signal: Buy
Current Market Cap: $5.58B
For a thorough assessment of OGS stock, go to TipRanks’ Stock Analysis page.