ONE Gas Inc. is expecting its 2020 net income to range from $186 million to $198 million, or an earnings per share of $3.44 to $3.68, with a midpoint of $192 million, or $3.56 per share, according to a Jan. 21 release.
ONE Gas narrowed its 2019 EPS guidance $3.49 per share to $3.53 per share from the previous EPS range of $3.39 to $3.57. Capital expenditures for 2019 are expected to come in at $470 million. The company provides natural gas distribution services to more than 2 million customers in Oklahoma, Kansas and Texas.
Capex is expected at about $475 million for 2020, with 70% of this amount to be targeted at system integrity and replacement projects. Between 2020 and 2024, capex is expected to range from $475 million per year to $525 million per year.
In a separate Jan. 21 release, ONE Gas declared a dividend of 54 cents per share, effective for the first quarter of 2020, up 4 cents from the previous dividend of 50 cents per share. The dividend is payable March 6 to shareholders of record on Feb. 21.