ONE Gas

OGS · NYSE

$75.60+$1.01 (+1.35%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $74.59

OGS analyst rating

BuyConsensus of 10 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy5
Hold5
Underperform0
Sell0

12-month price target · 10 analysts

Average $90.50 (+19.7% upside)

Low: $79.79
Now: $75.60
High: $108.15

Upgrades and downgrades

The latest rating actions, newest first

OGS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Oct 8, 2026	Downgrade	Buy → Hold	$103.00 → $80.00	57%
Scotiabank	Sep 29, 2026	Initiates	Sector Outperform	$86.00	88%
Morgan Stanley	Sep 18, 2026	Maintains	Equal-Weight	$82.00 → $79.00	58%
Morgan Stanley	Aug 21, 2026	Maintains	Equal-Weight	$86.00 → $82.00	58%
Ladenburg Thalmann	Aug 13, 2026	Upgrade	Neutral → Buy	$85.50	57%
Truist Securities	Aug 13, 2026	Maintains	Buy	$89.00 → $87.00	42%
Wells Fargo	Aug 6, 2026	Upgrade	Underweight → Equal-Weight	$85.00	40%
Truist Securities	Jul 22, 2026	Maintains	Buy	$95.00 → $89.00	42%
Morgan Stanley	Jul 17, 2026	Maintains	Equal-Weight	$80.00 → $81.00	58%
Mizuho	Jun 9, 2026	Maintains	Outperform	$94.00 → $89.00	71%

The case for and against

Updated Oct 23, 2025

Bull case

ONE Gas Inc demonstrates a positive outlook due to its effective execution on regulatory initiatives and operational expense management, which aligns well with increased customer demand driven by colder-than-normal weather. The company is strategically positioned to benefit from an anticipated uplift in demand for new housing, further bolstered by factors such as accelerated customer growth and favorable interest rate changes. The potential for positive regulatory outcomes and an improved inflationary environment further enhance the company's growth prospects and financial stability.

Bear case

ONE Gas Inc. faces a negative outlook due to its reliance on natural gas sales from a limited geographical area, primarily Oklahoma, Kansas, and Texas, which makes it vulnerable to regional economic fluctuations and regulatory changes. Additionally, the company's market dominance in these states may not shield it from increasing competition and potential shifts toward alternative energy sources, which could impact its revenue stability. The relative outperformance of the utility sector indicates broader industry trends that may not favor ONE Gas, suggesting potential challenges in maintaining expected growth and profitability.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.