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

ONE Gas, Inc. (NYSE:OGS) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders 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 yield of 4.07%. The ex-dividend date is Friday, May 17th.

ONE Gas has increased its dividend by an average of 6.4% annually over the last three years and has raised its dividend every year for the last 10 years. ONE Gas has a payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE:OGS traded up $0.06 during midday trading on Wednesday, reaching $64.89. The stock had a trading volume of 37,408 shares, compared to its average volume of 416,152. The stock has a market capitalization of $3.67 billion, a P/E ratio of 15.66, a PEG ratio of 3.39 and a beta of 0.65. ONE Gas has a 1-year low of $55.50 and a 1-year high of $83.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.52 and a quick ratio of 0.39. The firm’s fifty day simple moving average is $63.05 and its 200-day simple moving average is $61.99.

ONE Gas (NYSE:OGS) last posted its quarterly earnings data on Monday, May 6th. The utilities provider reported $1.75 EPS 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, equities research analysts forecast that ONE Gas will post 3.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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