ONE Gas, Inc. (OGS) to Issue Quarterly Dividend of $0.66 on June 4th

ONE Gas, Inc. (NYSE:OGS) announced a quarterly dividend on Monday, May 6th, 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 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, May 17th.

ONE Gas has raised its dividend payment by an average of 6.4% annually 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 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 Trading Down 0.7 %

OGS stock traded down $0.48 on Wednesday, hitting $64.35. 74,173 shares of the company were exchanged, compared to its average volume of 416,536. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The business’s fifty day moving average is $63.05 and its two-hundred day moving average is $61.99. ONE Gas has a twelve month low of $55.50 and a twelve month 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.

ONE Gas (NYSE:OGS) last released 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 firm had revenue of $758.32 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $1.84 earnings per share. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. As a group, research analysts forecast that ONE Gas will post 3.86 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on OGS shares. Morgan Stanley lifted their price objective on shares of ONE Gas from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Mizuho boosted their price objective on shares of 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 lifted their target price on ONE Gas from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. LADENBURG THALM/SH SH raised ONE Gas from a “neutral” rating to a “buy” rating and set a $64.50 price target for the company in a report on Tuesday, March 5th. Finally, UBS Group initiated coverage on ONE Gas in a report on Friday, April 12th. They set a “sell” rating and a $61.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.