ONE Gas Inc (NYSE:OGS) declared a quarterly dividend on Wednesday, January 17th, Wall Street Journal reports. Shareholders of record on Friday, February 23rd will be paid a dividend of 0.46 per share by the utilities provider on Friday, March 9th. This represents a $1.84 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, February 22nd. This is a positive change from ONE Gas’s previous quarterly dividend of $0.42.
ONE Gas has raised 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 55.6% meaning its dividend is sufficiently covered by earnings. Equities 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) opened at $68.17 on Friday. The firm has a market capitalization of $3,560.00, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 3.74 and a beta of 0.01. ONE Gas has a twelve month low of $63.16 and a twelve month high of $79.51. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.
A number of equities analysts have recently weighed in on OGS shares. Zacks Investment Research downgraded ONE Gas from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Jefferies Group reiterated a “sell” rating and issued a $63.00 target price on shares of ONE Gas in a report on Wednesday, December 20th. Morgan Stanley upped their target price on ONE Gas from $72.00 to $75.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th. Finally, Wells Fargo & Co set a $69.00 target price on ONE Gas and gave the company a “hold” rating in a 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 strong buy rating to the company’s stock. ONE Gas currently has a consensus rating of “Hold” and a consensus price target of $70.80.
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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.
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