ONE Gas, Inc.

NYSE:OGS Stock Report

Market Cap: US$5.6b

ONE Gas Future Growth

Future criteria checks 1/6

ONE Gas is forecast to grow earnings and revenue by 7.8% and 1.7% per annum respectively. EPS is expected to grow by 6.4% per annum. Return on equity is forecast to be 8.7% in 3 years.

Key information

7.8%

Earnings growth rate

6.42%

EPS growth rate

Gas Utilities earnings growth9.3%
Revenue growth rate1.7%
Future return on equity8.74%
Analyst coverage

Good

Last updated05 May 2026

Recent future growth updates

ONE Gas, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Nov 06
ONE Gas, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Earnings Update: ONE Gas, Inc. Beat Earnings And Now Analysts Have New Forecasts For This Year

May 09
Earnings Update: ONE Gas, Inc. Beat Earnings And Now Analysts Have New Forecasts For This Year

Recent updates

OGS: Steady Outlook Balances Equity Offering Plans And Long Term Execution

Analysts have raised their blended price target for ONE Gas by about $1 to $91.50, reflecting updated views around slightly higher long term revenue growth and steady profitability assumptions in recent research. Analyst Commentary Recent research on ONE Gas has featured several price target increases and a fresh initiation, giving you a clearer sense of how the Street is thinking about the company’s execution and valuation setup.

OGS: Steady Execution And Equity Plans Support Balanced Long Term Outlook

Analysts have slightly raised their blended price target for ONE Gas to about $90, reflecting recent $5 and $2 upward revisions, citing steady Q4 execution and what they view as continued growth opportunities over the coming years. Analyst Commentary Recent research updates on ONE Gas focus on modest price target adjustments, Q4 execution and how the company is positioned within the regulated utilities group.

OGS: Steady Execution And Measured Outlook Support Future Earnings Potential

Analysts have nudged their average price target for ONE Gas higher by about $3. This reflects updated views on the company’s fair value, projected profit margins, and future P/E assumptions following recent research updates from multiple firms.

OGS: Steady Execution And New Pipeline Project Will Support Future Earnings

Narrative Update: ONE Gas Analyst Price Target Analysts have nudged their views on ONE Gas higher, with recent price targets moving to $79 and $90. This reflects Q4 results that aligned with expectations and an outlook that highlights what they see as ongoing growth opportunities and sector-wide adjustments across regulated utilities.

OGS: Texas Policy And New Projects Will Steady Earnings Outlook

Analysts have nudged their price expectations for ONE Gas higher, with our updated fair value estimate moving from $85 to about $87, informed by recent target increases to $79 and $90 and supported by views that the company has ample growth opportunity over the next several years. Analyst Commentary Recent Street research around ONE Gas has focused on updated price targets, Q4 execution and the company’s longer term growth potential.

ONE Gas' (NYSE:OGS) Shareholders Will Receive A Bigger Dividend Than Last Year

Feb 10
ONE Gas' (NYSE:OGS) Shareholders Will Receive A Bigger Dividend Than Last Year

OGS: Texas Policy And Rates Will Steady Earnings And Capital Plans

Narrative Update: ONE Gas Analyst Price Target Shift The analyst price target for ONE Gas has moved higher, with recent Street research pointing to incremental increases such as a US$3 lift at Morgan Stanley and an upgrade to Neutral at UBS with a US$20 higher target. Analysts cite a better earnings outlook, a more balanced valuation, supportive Texas legislation, and interest rate tailwinds.

OGS: Texas Policy And Rate Tailwinds Will Guide Balanced Earnings Outlook

Analysts nudged their fair value estimate for ONE Gas to about $85.00, supported by recent price target increases of $1, to $75, and to $86 that reflect an improved earnings outlook, more balanced valuation, and support from Texas legislation and interest rate tailwinds. Analyst Commentary Bullish Takeaways Bullish analysts point to an improved earnings outlook as a key support for higher fair value, which underpins the recent cluster of price targets near the mid to high US$70s to mid US$80s.

Is Now The Time To Look At Buying ONE Gas, Inc. (NYSE:OGS)?

Jan 21
Is Now The Time To Look At Buying ONE Gas, Inc. (NYSE:OGS)?

OGS: Supportive Texas Policy And Rates Will Shape Measured Future Expectations

Analysts have nudged their price targets for ONE Gas higher, with recent moves such as US$72 to US$75 and US$66 to US$86. This reflects a view that an improved earnings outlook, supportive Texas legislation and interest rate tailwinds now make the stock's valuation look more balanced.

OGS: Supportive Texas Legislation And Interest Rates Will Shape Future Prospects

Analysts have nudged their price targets for ONE Gas higher, with a modest fair value adjustment to approximately $85 per share. This reflects improved earnings visibility, supportive Texas legislation, and a more balanced valuation backdrop.

Despite Price Drop, ONE Gas Is Not A Bargain Yet

Dec 13

OGS: Supportive Texas Legislation And Interest Rates Will Shape Future Performance

Analysts have nudged our price target for ONE Gas modestly higher from approximately $85.36 to $86.07, as improving earnings visibility, supportive Texas legislation, and interest rate tailwinds reinforce a slightly stronger long term growth and valuation outlook. Analyst Commentary Recent Street research reflects a meaningfully improved stance on ONE Gas, with several firms lifting ratings and price targets as they reassess the company’s growth, risk profile, and relative valuation within the regulated utilities space.

OGS: Future Texas Legislation And Regulatory Outcomes Will Influence Performance Outlook

ONE Gas saw its analyst price target raised from $82.50 to $85.36. Analysts cited an improved earnings outlook, positive effects from Texas legislation, and a more balanced valuation in their updated assessments.

ONE Gas, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Nov 06
ONE Gas, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

OGS: Future Regulatory Developments And Texas Legislation Will Shape Sector Discount

ONE Gas's fair value was recently revised upward from $80.07 to $82.50 per share. Analysts cite improved legislative support, regulatory catalysts, and favorable sector dynamics as drivers for their increased price targets.

Unpleasant Surprises Could Be In Store For ONE Gas, Inc.'s (NYSE:OGS) Shares

Oct 30
Unpleasant Surprises Could Be In Store For ONE Gas, Inc.'s (NYSE:OGS) Shares

Analysts Cite Supportive Legislation and Raised Earnings Outlook in ONE Gas Valuation Update

Analysts have raised the fair value estimate for ONE Gas from $76.67 to $80.07 per share. They cite regulatory catalysts, supportive legislation, and the company’s attractive relative valuation as key drivers for the updated price target.

Is Now The Time To Put ONE Gas (NYSE:OGS) On Your Watchlist?

Sep 09
Is Now The Time To Put ONE Gas (NYSE:OGS) On Your Watchlist?

Here's What To Make Of ONE Gas' (NYSE:OGS) Decelerating Rates Of Return

Aug 22
Here's What To Make Of ONE Gas' (NYSE:OGS) Decelerating Rates Of Return

Calculating The Intrinsic Value Of ONE Gas, Inc. (NYSE:OGS)

Jul 28
Calculating The Intrinsic Value Of ONE Gas, Inc. (NYSE:OGS)

There's Reason For Concern Over ONE Gas, Inc.'s (NYSE:OGS) Price

Jun 30
There's Reason For Concern Over ONE Gas, Inc.'s (NYSE:OGS) Price

We Think Some Shareholders May Hesitate To Increase ONE Gas, Inc.'s (NYSE:OGS) CEO Compensation

May 16
We Think Some Shareholders May Hesitate To Increase ONE Gas, Inc.'s (NYSE:OGS) CEO Compensation

Earnings Update: ONE Gas, Inc. Beat Earnings And Now Analysts Have New Forecasts For This Year

May 09
Earnings Update: ONE Gas, Inc. Beat Earnings And Now Analysts Have New Forecasts For This Year

ONE Gas: Valuation Looks Attractive At First, But This Does Not Tell The Whole Story

Apr 08
User avatar

Innovations And Challenges Steer Gas Utility Toward Revenue And Margin Growth

Regulatory approval for increased rates after a settlement suggests enhanced future revenue stability and growth.

ONE Gas' Promise Of Dividend Growth, And Its Cheap Valuation

Apr 06

Earnings and Revenue Growth Forecasts

NYSE:OGS - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,585350N/A7595
12/31/20272,567316N/A6957
12/31/20262,478300N/A6787
12/31/20252,427264-128579N/A
9/30/20252,369255-121598N/A
6/30/20252,330248-142566N/A
3/31/20252,260243-165538N/A
12/31/20242,084223-335368N/A
9/30/20242,059217-297403N/A
6/30/20242,054222-245442N/A
3/31/20242,098228-104579N/A
12/31/20232,372231273940N/A
9/30/20232,584228170858N/A
6/30/20232,6082261,3522,033N/A
3/31/20232,6392251,2851,932N/A
12/31/20222,5782229611,571N/A
9/30/20222,3542151,0211,581N/A
6/30/20222,268212-201328N/A
3/31/20222,155210-278231N/A
12/31/20211,809206-2,031-1,536N/A
9/30/20211,699204-1,992-1,521N/A
6/30/20211,670205-1,945-1,492N/A
3/31/20211,627200-1,934-1,477N/A
12/31/20201,530196-107365N/A
9/30/20201,499189-113347N/A
6/30/20201,503186-120348N/A
3/31/20201,520185-77371N/A
12/31/20191,653187-107310N/A
9/30/20191,665180N/A319N/A
6/30/20191,654179N/A309N/A
3/31/20191,656175N/A367N/A
12/31/20181,634172N/A468N/A
9/30/20181,632175N/A388N/A
6/30/20181,641177N/A374N/A
3/31/20181,628177N/A315N/A
12/31/20171,540163N/A254N/A
9/30/20171,518158N/A303N/A
6/30/20171,503152N/A294N/A
3/31/20171,469152N/A264N/A
12/31/20161,427140N/A291N/A
9/30/20161,376137N/A335N/A
6/30/20161,369132N/A328N/A
3/31/20161,380123N/A342N/A
12/31/20151,548119N/A408N/A
9/30/20151,673116N/A346N/A
6/30/20151,689114N/A328N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: OGS's forecast earnings growth (7.8% per year) is above the savings rate (3.5%).

Earnings vs Market: OGS's earnings (7.8% per year) are forecast to grow slower than the US market (16% per year).

High Growth Earnings: OGS's earnings are forecast to grow, but not significantly.

Revenue vs Market: OGS's revenue (1.7% per year) is forecast to grow slower than the US market (11.2% per year).

High Growth Revenue: OGS's revenue (1.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: OGS's Return on Equity is forecast to be low in 3 years time (8.7%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/05 21:54
End of Day Share Price 2026/05/05 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ONE Gas, Inc. is covered by 15 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ross FowlerBofA Global Research
Ross FowlerBofA Global Research
Lynsey ProutBofA Global Research