ONE Gas, Inc. (NYSE:OGS) Announces $0.66 Quarterly Dividend

ONE Gas, Inc. (NYSE:OGS) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be paid a dividend of 0.66 per share by the utilities provider on Tuesday, June 4th. This represents a $2.64 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, May 17th.

ONE Gas has raised its dividend payment by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. ONE Gas has a payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ONE Gas to earn $4.16 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 63.5%.

ONE Gas Trading Up 0.1 %

NYSE:OGS traded up $0.06 during trading hours on Wednesday, reaching $64.89. 37,408 shares of the stock were exchanged, compared to its average volume of 416,152. ONE Gas has a twelve month low of $55.50 and a twelve month high of $83.89. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $63.05 and a two-hundred day moving average of $61.99. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 3.39 and a beta of 0.65.

ONE Gas (NYSE:OGS) last released its earnings results on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). ONE Gas had a net margin of 9.75% and a return on equity of 8.63%. The firm had revenue of $758.32 million during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. The business’s revenue was down 26.5% compared to the same quarter last year. On average, equities analysts predict that ONE Gas will post 3.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. LADENBURG THALM/SH SH raised ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price objective on the stock in a report on Tuesday, March 5th. UBS Group began coverage on ONE Gas in a research note on Friday, April 12th. They set a “sell” rating and a $61.00 price objective for the company. Mizuho boosted their target price on ONE Gas from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Morgan Stanley increased their price target on ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company increased their target price on ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.56.

About ONE Gas

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.