Scotiabank sets USD 86 target for ONE Gas stock

Published on 10/06/2026 at 16:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Scotiabank forecasts USD 4.88 for fiscal 2026 and sets a USD 86 target for ONE Gas stock. Adjusted fiscal 2026 earnings per share guidance is USD 4.83-4.95.

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Scotiabank set a USD 86 price target and a Sector Outperform rating for ONE Gas stock on October 1, 2026, while forecasting USD 4.88 in earnings per share for fiscal 2026, according to MarketBeat. The target and forecast put the utility's valuation debate alongside its adjusted 2026 earnings guidance of USD 4.83-4.95 per share.

Guidance moves toward the upper half

ONE Gas raised its adjusted earnings expectations to the upper half of its prior guidance ranges after reporting second-quarter 2026 results. The company had previously set adjusted net income guidance at USD 306 million to USD 314 million and adjusted diluted earnings per share guidance at USD 4.83 to USD 4.95, as reported in the company's filing summary by StockTitan.

For the second quarter of 2026, GAAP net income reached USD 46.8 million, or USD 0.74 per diluted share, compared with USD 32.0 million, or USD 0.53 per diluted share, in the second quarter of 2025. Adjusted net income was USD 52.1 million, or USD 0.82 per diluted share, versus USD 32.7 million, or USD 0.54 per diluted share, a year earlier, according to the same filing summary.

Revenue fell while earnings improved

Second-quarter 2026 revenue was USD 411.6 million, down 2.8 percent from the prior-year quarter, while GAAP net income increased from USD 32.0 million to USD 46.8 million. The contrast matters for investors because regulated rate revenue and cost recovery can support profitability even when pass-through natural gas revenue declines.

The company operates as a 100-percent regulated natural gas utility serving more than 2.3 million customers in Kansas, Oklahoma and Texas. Its latest release also identifies the business as a member of the S&P MidCap 400 and confirms that third-quarter 2026 results will be released after the market closes on November 2, 2026, with the conference call scheduled for November 3, 2026, according to ONE Gas.

NYSE quote and upcoming results

On October 6, 2026, ONE Gas was trading at USD 73.02 on the New York Stock Exchange at 10:46 a.m. EDT, versus a previous close of USD 72.57. Its market capitalization was USD 4.6 billion, and the same-day 52-week range was USD 70.37 to USD 90.78.