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

ONE Gas, Inc. (NYSE:OGS) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.66 per share by the utilities provider on Tuesday, June 4th. This represents a $2.64 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, May 17th.

ONE Gas has raised its dividend 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% meaning 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 Price Performance

Shares of OGS stock traded down $0.26 during mid-day trading on Tuesday, reaching $64.83. The stock had a trading volume of 750,828 shares, compared to its average volume of 416,681. The company has a market cap of $3.67 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 0.78. ONE Gas has a 12-month low of $55.50 and a 12-month high of $83.89. The business has a 50-day simple moving average of $62.94 and a 200 day simple moving average of $62.00.

ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, May 6th. The utilities provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). ONE Gas had a return on equity of 8.63% and a net margin of 9.75%. The business had revenue of $758.32 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $1.84 earnings per share. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, sell-side analysts anticipate that ONE Gas will post 3.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on OGS shares. LADENBURG THALM/SH SH raised shares of ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price objective on the stock in a research note on Tuesday, March 5th. Mizuho boosted their target price on shares of ONE Gas from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. UBS Group assumed coverage on shares of ONE Gas in a research report on Friday, April 12th. They issued a “sell” rating and a $61.00 price objective for the company. Morgan Stanley lifted their target price on ONE Gas from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company raised their price objective on ONE Gas from $60.00 to $63.00 and gave the company 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 given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.56.

ONE Gas Company Profile

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.