ONE Gas, Inc. Declares Quarterly Dividend of $0.42 (NYSE:OGS)

ONE Gas, Inc. (NYSE:OGS) announced a quarterly dividend on Tuesday, July 25th, Wall Street Journal reports. Stockholders of record on Monday, August 14th will be given a dividend of 0.42 per share by the utilities provider on Friday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, August 10th.

ONE Gas has a dividend payout ratio of 56.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ONE Gas to earn $3.12 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 53.8%.

ONE Gas (OGS) traded up 0.08% during mid-day trading on Friday, hitting $73.78. 110,289 shares of the stock traded hands. ONE Gas has a 12 month low of $55.98 and a 12 month high of $74.01. The company’s 50 day moving average is $70.96 and its 200 day moving average is $68.11. The company has a market cap of $3.86 billion, a P/E ratio of 25.71 and a beta of 0.12.

ONE Gas (NYSE:OGS) last released its earnings results on Monday, July 31st. The utilities provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by $0.03. ONE Gas had a return on equity of 7.98% and a net margin of 10.12%. The company had revenue of $279.69 million during the quarter, compared to analysts’ expectations of $257.87 million. During the same period last year, the firm posted $0.38 EPS. ONE Gas’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that ONE Gas will post $2.98 earnings per share for the current fiscal year.

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In related news, Director Michael G. Hutchinson sold 1,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $69.28, for a total transaction of $69,280.00. Following the sale, the director now owns 5,838 shares of the company’s stock, valued at $404,456.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.25% of the stock is owned by corporate insiders.

OGS has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of ONE Gas from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Morgan Stanley boosted their target price on shares of ONE Gas from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Finally, BidaskClub downgraded shares of ONE Gas from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $65.33.

About ONE Gas

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.