ONE Gas Inc (NYSE:OGS) announced a quarterly dividend on Tuesday, October 30th, Wall Street Journal reports. Stockholders of record on Tuesday, November 13th will be paid a dividend of 0.46 per share by the utilities provider on Monday, December 3rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, November 9th.
ONE Gas has increased its dividend by an average of 26.0% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. ONE Gas has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ONE Gas to earn $3.38 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 54.4%.
Shares of NYSE OGS traded down $0.04 during mid-day trading on Tuesday, reaching $81.19. The company’s stock had a trading volume of 373,731 shares, compared to its average volume of 233,551. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 4.33 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. ONE Gas has a 1-year low of $62.20 and a 1-year high of $85.22.
In other ONE Gas news, Director Arcilia Acosta bought 1,265 shares of ONE Gas stock in a transaction dated Thursday, August 30th. The stock was acquired at an average cost of $78.94 per share, for a total transaction of $99,859.10. Following the completion of the transaction, the director now directly owns 2,277 shares of the company’s stock, valued at $179,746.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.62% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on OGS shares. Jefferies Financial Group reiterated a “$75.39” rating and issued a $67.00 target price on shares of ONE Gas in a research report on Wednesday, July 18th. ValuEngine upgraded shares of ONE Gas from a “hold” rating to a “buy” rating in a research report on Monday, October 8th. Wells Fargo & Co increased their target price on shares of ONE Gas from $78.00 to $84.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Morgan Stanley set a $76.00 target price on shares of ONE Gas and gave the company a “sell” rating in a research report on Thursday, October 11th. Finally, UBS Group set a $77.00 target price on shares of ONE Gas and gave the company a “sell” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price 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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