Fintel reports that on July 21, 2023, Morgan Stanley reiterated coverage of ONE Gas (NYSE:OGS) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 0.81% Upside
As of July 6, 2023, the average one-year price target for ONE Gas is 81.26. The forecasts range from a low of 73.73 to a high of $88.20. The average price target represents an increase of 0.81% from its latest reported closing price of 80.61.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ONE Gas is 2,211MM, a decrease of 16.21%. The projected annual non-GAAP EPS is 4.22.
ONE Gas Declares $0.65 Dividend
On May 1, 2023 the company declared a regular quarterly dividend of $0.65 per share ($2.60 annualized). Shareholders of record as of May 17, 2023 received the payment on June 2, 2023. Previously, the company paid $0.65 per share.
At the current share price of $80.61 / share, the stock's dividend yield is 3.23%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.80%, the lowest has been 2.08%, and the highest has been 3.64%. The standard deviation of yields is 0.43 (n=236).
The current dividend yield is 0.98 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.64. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 757 funds or institutions reporting positions in ONE Gas. This is a decrease of 3 owner(s) or 0.39% in the last quarter. Average portfolio weight of all funds dedicated to OGS is 0.21%, a decrease of 17.75%. Total shares owned by institutions increased in the last three months by 4.54% to 60,045K shares. 
The put/call ratio of OGS is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
SDY - SPDR(R) S&P(R) Dividend ETF holds 3,431K shares representing 6.19% ownership of the company.
American Century Companies holds 2,865K shares representing 5.17% ownership of the company. In it's prior filing, the firm reported owning 3,497K shares, representing a decrease of 22.04%. The firm decreased its portfolio allocation in OGS by 17.31% over the last quarter.
TWEIX - Equity Income Fund Investor Class holds 2,156K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 2,600K shares, representing a decrease of 20.56%. The firm decreased its portfolio allocation in OGS by 10.90% over the last quarter.
T. Rowe Price Investment Management holds 2,060K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 1,929K shares, representing an increase of 6.39%. The firm increased its portfolio allocation in OGS by 4.44% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,727K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,646K shares, representing an increase of 4.65%. The firm increased its portfolio allocation in OGS by 1.33% over the last quarter.
ONE Gas Background Information
(This description is provided by the company.)
ONE Gas, Inc. (NYSE: OGS) is a 100-percent regulated natural gas utility, and trades on the New York Stock Exchange under the symbol 'OGS.' ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States. ONE Gas, headquartered in Tulsa, Oklahoma, provides natural gas distribution services to more than 2 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.
Additional reading:
- ONE Gas Declares Quarterly Dividend
- ONE Gas Adds New Member to Board of Directors
- ONE Gas Second Quarter 2023 Conference Call and Webcast Scheduled
- ONE Gas Announces First Quarter 2023 Financial Results; Affirms 2023 Financial Guidance Declares Second Quarter Dividend
- ONE Gas to Participate in American Gas Association Financial Forum
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
