What can investors in Oklahoma-based ONE Gas expect from the utility in the coming year?
In a new Investor Update, ONE Gas, the company that owns Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service indicated it expects earnings in the coming year in the range of $254 million to $261 million. It also expects an earnings per share range of $4.20 to $4.32 per share in 2025 or growth of 4 to 6%.
ONE Gas stated it also anticipates $750 million in capital investments and was on track “to replace over 400 miles of transmission, main and service lines in 2024.” The company also anticipates 23,000 new meter sets.
ONE Gas declared that it increased its storage to 59 Bcf or 20% up from pre-Winter Storm Uri levels, the storm that resulted in securitization and long-term bonds to be paid by customers due to historic gas costs in Oklahoma.
The company also indicated it appears to be on track to meeting its 2035 target of elimination of greenhouse gas emissions. It achieved a 50% reduction in its Scope 1 emissions, those that are directly controlled by ONE Gas and its subsidiaries.
