ONE Gas, Inc. (OGS) Plans $0.42 Quarterly Dividend
ONE Gas, Inc. (NYSE:OGS) declared a quarterly dividend on Tuesday, July 25th, Wall Street Journal reports. Investors of record on Monday, August 14th will be paid a dividend of 0.42 per share by the utilities provider on Friday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, August 10th.
ONE Gas has a payout ratio of 56.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ONE Gas to earn $3.11 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 54.0%.
Shares of ONE Gas (NYSE:OGS) traded up 1.57% during trading on Tuesday, reaching $72.66. The company had a trading volume of 247,328 shares. The company’s 50 day moving average is $70.67 and its 200-day moving average is $67.66. ONE Gas has a 1-year low of $55.98 and a 1-year high of $72.97. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 25.32 and a beta of 0.11.
ONE Gas (NYSE:OGS) last issued its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $550.41 million during the quarter, compared to the consensus estimate of $582.25 million. ONE Gas had a net margin of 10.33% and a return on equity of 8.02%. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, equities research analysts anticipate that ONE Gas will post $2.97 earnings per share for the current year.
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A number of analysts have recently commented on OGS shares. BidaskClub cut shares of ONE Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reaffirmed a “sell” rating and set a $59.00 price objective on shares of ONE Gas in a research note on Friday, March 31st. Zacks Investment Research raised shares of ONE Gas from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Thursday, July 13th. Finally, Morgan Stanley upped their price objective on shares of ONE Gas from $68.00 to $70.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $65.33.
In related news, Director Michael G. Hutchinson sold 1,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $69.28, for a total transaction of $69,280.00. Following the completion of the sale, the director now owns 5,838 shares of the company’s stock, valued at approximately $404,456.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.25% of the stock is currently owned by corporate insiders.
ONE Gas Company Profile
ONE Gas, Inc is a regulated natural gas distribution utility in the United States. The Company provides natural gas distribution services. The Company distributes natural gas in Oklahoma, Kansas and Texas. The Company serves residential, commercial and industrial, transportation and wholesale and public authority customers.
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