ONE Gas (OGS)
Distributes natural gas through three regulated utilities across Oklahoma, Kansas, and Texas.
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Distributes natural gas to residential, commercial, and transportation customers through Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. Earnings come from regulated delivery charges and authorized returns on infrastructure, while purchased gas costs pass through without markup.
Distributes natural gas through Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service to residential, commercial, and transportation customers across Oklahoma, Kansas, and Texas. The utility is the largest distributor by customer count in Oklahoma and Kansas and the third largest in Texas.
Operations center on sourcing supply from multiple producers and marketers, managing storage and transportation, maintaining pipeline integrity, and extending local distribution systems. Competitive bidding, storage, fixed-price contracts, and hedges help balance reliable supply with seasonal demand.
All operations are regulated. State commissions, Texas municipalities, and the Railroad Commission of Texas set delivery rates and authorize cost recovery; purchased gas passes through without markup. Earnings depend on allowed returns, timely infrastructure-cost recovery, weather normalization, pipeline safety, and demand for natural gas relative to electricity.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 13, 2026 | Truist Financial | Target | Target: $95 | Target: $87 |
| Aug 13, 2026 | Ladenburg Thalmann | Upgrade | ||
| Aug 6, 2026 | Wells Fargo | Upgrade | ||
| Jul 23, 2026 | BTIG | Reiterate | Rating: —Target: — | Target: $96 |
| Jun 24, 2026 | Morgan Stanley | Target | Target: $82 | Target: $80 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $7.9M · Total debt $3.39B · Total assets $8.81B · Shareholders' equity $3.54B
- Revenue
- $411.6M
- Operating income
- $82.7M
- Net income
- $46.8M
HistoryDividendAnnual yield
| Institutions | ≈ 92.98% | 58.45M shares | |
|---|---|---|---|
| 434 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.07% | 674.2K shares | |
| 14 holders · as of Jun 10, 2026 | |||
| Other | ≈ 5.95% | 3.74M shares | |
| remainder | |||
62.86M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.48% | 9.10M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.91% | 3.72M | as of Jun 30, 2026 |
American Century Companies IncInstitution | 5.64% | 3.54M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.20% | 3.27M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.49% | 2.82M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 6, 2026 | Eduardo A. Rodriguez | director | −850 | $86.34 |
| Feb 24, 2026 | Brian F. Brumfield | officer: See Remarks | −1,000 | $86.44 |
| Dec 4, 2025 | Michael G. Hutchinson | director | −3,000 | $78.86 |
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- NW Natural
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- New Jersey Resources
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ONE Gas | $74.32 | +0.01% | $4.66B | 16.0 | 15.0 | 2.0 | −2.9% |
| Atmos Energy | $158.15 | −0.08% | $26.42B | 18.8 | 17.7 | 5.4 | +4.8% |
| Black Hills | $72.80 | +1.17% | $5.48B | 18.2 | 15.6 | 2.4 | +3.1% |
| Spire | $79.32 | −0.56% | $4.72B | 8.9 | 16.3 | 1.9 | −0.4% |
| Southwest Gas | $84.97 | +0.38% | $6.13B | 11.8 | 18.2 | 3.5 | −68.0% |
| NiSource | $40.44 | −0.21% | $19.42B | 21.6 | 18.6 | 2.8 | +4.6% |
| Chesapeake Utilities | $132.29 | +0.87% | $3.15B | 20.9 | 19.4 | 3.2 | +4.7% |
| NW Natural | $48.33 | +0.53% | $2.02B | 15.7 | 15.0 | 1.6 | +3.1% |
| New Jersey Resources | $53.21 | +0.55% | $5.34B | 14.6 | 16.0 | 2.4 | +16.8% |
| Median | 17.0 | 17.0 | 2.6 | +3.9% |