ONE Gas Inc (NYSE:OGS) announced a quarterly dividend on Tuesday, October 30th, Wall Street Journal reports. Investors of record on Tuesday, November 13th will be given a dividend of 0.46 per share by the utilities provider on Monday, December 3rd. This represents a $1.84 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, November 9th.
ONE Gas has raised its dividend by an average of 26.0% per year over the last three years and has increased its dividend every year for the last 2 years. ONE Gas has a payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ONE Gas to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 54.1%.
OGS stock opened at $77.89 on Friday. The company has a market cap of $4.09 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 4.19 and a beta of 0.25. ONE Gas has a fifty-two week low of $62.20 and a fifty-two week high of $85.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.45 and a quick ratio of 0.36.
ONE Gas (NYSE:OGS) last posted its earnings results on Monday, October 29th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $238.28 million during the quarter, compared to analysts’ expectations of $250.60 million. ONE Gas had a return on equity of 8.63% and a net margin of 10.70%. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, sell-side analysts anticipate that ONE Gas will post 3.26 earnings per share for the current fiscal year.
In other news, Director Arcilia Acosta acquired 1,265 shares of ONE Gas stock in a transaction on Thursday, August 30th. The stock was bought at an average price of $78.94 per share, for a total transaction of $99,859.10. Following the completion of the purchase, the director now owns 2,277 shares in the company, valued at $179,746.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on OGS shares. Morgan Stanley boosted their target price on ONE Gas from $76.00 to $78.00 and gave the stock a “sell” rating in a research note on Tuesday, September 11th. ValuEngine upgraded ONE Gas from a “hold” rating to a “buy” rating in a research note on Monday, October 8th. Wells Fargo & Co boosted their price objective on ONE Gas from $78.00 to $84.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Bank of America boosted their price objective on ONE Gas from $68.00 to $74.00 and gave the company an “underperform” rating in a research note on Monday, October 29th. Finally, Jefferies Financial Group reiterated a “$75.39” rating and issued a $67.00 price objective on shares of ONE Gas in a research note on Wednesday, July 18th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. ONE Gas presently has a consensus rating of “Hold” and a consensus price target of $76.83.
About ONE Gas
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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