ONE Gas, Inc. (NYSE:OGS) Declares Dividend Increase – $0.67 Per Share

ONE Gas, Inc. (NYSE:OGS) declared a quarterly dividend on Tuesday, January 7th,RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.67 per share by the utilities provider on Friday, March 7th. This represents a $2.68 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from ONE Gas’s previous quarterly dividend of $0.66.

ONE Gas has raised its dividend payment by an average of 4.4% per year over the last three years. ONE Gas has a payout ratio of 60.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ONE Gas to earn $4.26 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 62.9%.

ONE Gas Stock Up 1.9 %

Shares of NYSE:OGS opened at $72.90 on Wednesday. The company has a market capitalization of $4.13 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.60 and a beta of 0.72. The stock’s fifty day simple moving average is $70.04 and its 200-day simple moving average is $71.38. ONE Gas has a 52-week low of $57.74 and a 52-week high of $78.89. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 0.85.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OGS shares. StockNews.com downgraded shares of ONE Gas from a “hold” rating to a “sell” rating in a report on Saturday, January 18th. Stifel Nicolaus boosted their price target on ONE Gas from $73.00 to $74.00 and gave the company a “hold” rating in a report on Friday, December 6th. Jefferies Financial Group reduced their price target on ONE Gas from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH lowered ONE Gas from a “buy” rating to a “neutral” rating and set a $75.50 target price for the company. in a research note on Friday, December 6th. Finally, Wells Fargo & Company decreased their price target on ONE Gas from $82.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONE Gas has an average rating of “Hold” and a consensus target price of $72.31.

About ONE Gas

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.