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

ONE Gas, Inc. (NYSE:OGS) announced a quarterly dividend on Tuesday, July 16th, Wall Street Journal reports. Stockholders of record on Wednesday, August 14th will be paid a dividend of 0.66 per share by the utilities provider on Friday, August 30th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, August 14th.

ONE Gas has increased its dividend payment by an average of 6.4% annually over the last three years. ONE Gas has a dividend payout ratio of 64.1% indicating that 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 Up 3.1 %

NYSE:OGS traded up $2.05 on Tuesday, reaching $68.29. The stock had a trading volume of 619,961 shares, compared to its average volume of 431,611. ONE Gas has a 12-month low of $55.50 and a 12-month high of $82.06. The stock has a market cap of $3.86 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. The company has a current ratio of 0.47, a quick ratio of 0.39 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $62.27 and a 200 day moving average of $62.17.

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 net margin of 10.86% and a return on equity of 8.37%. The company had revenue of $758.32 million for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $1.84 EPS. ONE Gas’s revenue was down 26.5% compared to the same quarter last year. On average, research analysts predict that ONE Gas will post 3.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OGS shares. StockNews.com raised shares of ONE Gas from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group initiated coverage on ONE Gas in a research note on Friday, April 12th. They set a “sell” rating and a $61.00 target price for the company. Morgan Stanley cut their price target on ONE Gas from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Finally, Mizuho boosted their price objective on shares of ONE Gas from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.69.

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.