ONE Gas (OGS) Company Report

ONE Gas, Inc. (OGS) announced that its board of directors declared a cash dividend of 68 cents per share of common stock.
This represents an increase of 1 cent per share for the first quarter 2026, resulting in an annualized dividend of $2.72 per share.
The dividend is payable on March 6, 2026, to shareholders of record as of February 20, 2026.
The company expects an average annual dividend increase of 1% to 2% through 2030, subject to board approval.

Jan 20, 2026, 9:42 PM

8-K

ONE Gas, Inc. to Issue Common Stock for $205 Million

OGS

ONE Gas, Inc. (OGS) expects to settle and issue a total of 2,633,700 shares of common stock on or before December 29, 2025, through three Forward Sale Agreements.
These settlements are anticipated to generate net proceeds of approximately $205 million for the company.

Dec 29, 2025, 9:05 PM

8-K

ONE Gas, Inc. Announces New Natural Gas Pipeline Investment

OGS

New Projects/Investments

ONE Gas, Inc. announced a joint infrastructure initiative to build a 43-mile natural gas pipeline in southeast Oklahoma, aimed at supporting economic growth and enhancing energy reliability.
The project, with a total investment of $150–$160 million, will see ONE Gas invest approximately $120 million to deliver over 100 billion cubic feet of natural gas annually to Western Farmers Electric Cooperative's Hugo Plant.
This initiative is expected to enable 400 megawatts of natural gas-fueled generation by 2029 and the pipeline is projected to be completed by the third quarter of 2028.

Dec 17, 2025, 10:42 PM

8-K

ONE Gas Provides 2026 Financial Guidance and Raises Long-Term EPS Growth Outlook

OGS

Guidance Update

New Projects/Investments

Dividends

ONE Gas projects 2026 net income to range from $294 million to $302 million and earnings per diluted share (EPS) from $4.65 to $4.77, representing an approximate 8% increase over the midpoint of its latest 2025 EPS guidance.
The company has increased its long-term EPS growth outlook to 5% to 7%.
ONE Gas plans to invest approximately $800 million in capital in 2026 and $4.3 billion over the next five years (2026-2030), supporting a 7% to 9% compound annual rate base growth.
Financing needs for 2026-2030 are projected at approximately $1.3 billion, with roughly 30% in the form of equity issuances, a 35% reduction in total equity financing needs compared to last year's outlook.
The company anticipates a 1% to 2% compound annual dividend growth rate through 2030.

Dec 2, 2025, 1:00 PM

Transcript

ONE Gas Provides 2026 Financial Guidance and Long-Term Outlook

OGS

Guidance Update

Earnings

New Projects/Investments

ONE Gas projects 2026 net income in the range of $294 - $302 million and EPS between $4.65 - $4.77 per diluted share, assuming approximately 63.4 million diluted shares outstanding.
The company plans ~$800 million in capital investments for 2026, with approximately $230 million attributed to customer growth, and expects an estimated average rate base of ~$6.3 billion.
Long-term financial highlights include projected net income growth of 7-9% and EPS growth of 5-7% for the 2025-2030 period, alongside an average annual rate base growth of 7-9%.
Financing activities include a $250 million term loan completed in August 2025 maturing in September 2026, and forward sale agreements covering ~2.9 million shares at an average of ~$78/share. The company expects adjusted CFO/Debt of ~19% in 2026, rising to ~20% by 2030.

Dec 2, 2025, 1:00 PM

Presentation

ONE Gas Announces 2026 Financial Guidance and Long-Term Outlook

OGS

Guidance Update

New Projects/Investments

Accounting Changes

ONE Gas projects 2026 net income to range from $294 million to $302 million, with earnings per diluted share (EPS) of $4.65 to $4.77, an approximate 8% increase over the midpoint of their latest 2025 EPS guidance.
The company has increased its long-term EPS growth outlook to 5%-7% and anticipates a five-year compound annual net income growth rate of 7%-9%.
ONE Gas plans to invest approximately $800 million in capital in 2026 and $4.3 billion over the next five years, supporting 7%-9% compound annual rate-based growth.
The financing model is transitioning to be more self-funded, with five-year financing needs of approximately $1.3 billion, down from $1.5 billion previously, and roughly 30% of this amount expected from equity issuance.
The company is pursuing significant large-load demand opportunities, including a project to deliver natural gas for 100 megawatts of on-site generation near El Paso by Q3 2026, and is negotiating another project to supply natural gas for up to 1.3 gigawatts of electric generation.

Dec 2, 2025, 1:00 PM

Transcript

ONE Gas Announces 2026 Financial Guidance and Long-Term Outlook

OGS

Guidance Update

Dividends

New Projects/Investments

ONE Gas projects 2026 net income between $294 million and $302 million, with earnings per diluted share (EPS) of $4.65 to $4.77, an approximate 8% increase over the midpoint of its 2025 EPS guidance.
The company has raised its long-term EPS growth outlook to a compound annual growth rate (CAGR) of 5%-7% and forecasts a five-year compound annual net income growth rate of 7%-9%.
Capital investments are projected at approximately $800 million for 2026 and $4.3 billion over the next five years, supporting 7%-9% compound annual rate-based growth.
Financing needs for 2026 through 2030 are approximately $1.3 billion, with roughly 30% expected from equity issuance, and a 1%-2% compound annual dividend growth rate through 2030 is anticipated.
A partial settlement in the Texas rate case includes a $15 million revenue increase, a 59.9% actual equity capital structure, and a 9.8% return on equity, with a decision expected in January. The company is also pursuing large-load demand opportunities, such as a project to deliver natural gas for 100 megawatts of on-site generation by Q3 2026.

Dec 2, 2025, 1:00 PM

Transcript

ONE Gas Announces 2026 Financial Guidance and Long-Term Outlook

OGS

Guidance Update

New Projects/Investments

Dividends

ONE Gas projects 2026 net income to range from $294 million-$302 million and earnings per diluted share of $4.65-$4.77, an approximate 8% increase over the midpoint of its latest 2025 EPS guidance. The company has also raised its long-term EPS growth outlook to 5%-7% compound annual growth rate (CAGR).
The company plans to invest $800 million in capital in 2026, which is $50 million more than its 2025 plan. Over the next five years, total capital spending is anticipated to be $4.3 billion, supporting 7%-9% compound annual rate-based growth.
Financing needs for 2026 through 2030 are projected at approximately $1.3 billion, with roughly 30% of this amount expected to be in the form of equity issuance. The adjusted CFO to debt ratio is expected to improve from approximately 19% this year to roughly 20% by 2030.
ONE Gas anticipates delivering a 1%-2% compound annual dividend growth rate through 2030, subject to board approval.
The company is capitalizing on significant large-load demand opportunities, including a project to deliver natural gas for 100 megawatts of on-site generation at an advanced manufacturing facility near El Paso, expected to be in service in the third quarter of 2026. Negotiations are also advancing on another project designed to supply natural gas for up to 1.3 gigawatts of electric generation.

Dec 2, 2025, 1:00 PM

Transcript

ONE Gas Issues 2026 Financial Guidance and Updates Long-Term Growth Rates

OGS

Guidance Update

Earnings

New Projects/Investments

ONE Gas, Inc. (OGS) issued its 2026 financial guidance on December 1, 2025, projecting net income between $294 million and $302 million and diluted earnings per share (EPS) between $4.65 and $4.77.
The company raised its long-term diluted EPS growth rate to 5% to 7%, an increase from the previously stated 4% to 6%.
Capital investments for 2026 are expected to be approximately $800 million, primarily allocated to system integrity and replacement projects, with an anticipated average rate base of $6.3 billion.
For the five-year period ending 2030, ONE Gas anticipates annual capital investments ranging from $800 million to $900 million, totaling approximately $4.3 billion, which is expected to support an average annual rate base growth of 7% to 9%.

Dec 1, 2025, 9:21 PM

8-K

ONE Gas Issues 2026 Financial Guidance and Updates Long-Term Growth Rates

OGS

Guidance Update

New Projects/Investments

Dividends

ONE Gas expects 2026 net income to be in the range of $294 million to $302 million, with earnings per diluted share of $4.65 to $4.77.
The company has updated its long-term diluted earnings per share growth rate to 5% to 7%, an increase from the previous 4% to 6%, for the five years ending 2030.
Capital investments are projected to be approximately $800 million in 2026 and are expected to range from $800 million to $900 million per year for the five-year period ending 2030, totaling approximately $4.3 billion.
ONE Gas anticipates an average annual dividend growth rate of 1% to 2% through 2030.