Bullish Case: Recent stability and increasing dividends signal confidence in ONE Gas's operations, enhanced by strategic capital expenditure focused on asset integrity, suggesting potential long-term growth amid a solidified customer base.


Bearish Case: Persistent revenue declines and institutional sell-offs, coupled with high recent implied volatility, suggest potential downside. Historical underperformance and a bearish HeliumTrades AI forecast could lead to further stock price deterioration.


Potential Outcomes:

1. OGS stabilizes with revised rates: 30%.

2. Further decline from institutional sell-off: 35%.

3. Modest rebound with dividend stability and strategic investments: 35%.


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April 23, 2024


ONE Gas Forecast

OGS        ONE Gas
Price Forecast: NEUTRAL    Price Action: MEAN REVERTING (?)











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