RGC Resources (NASDAQ:RGCO) Issues Earnings Results

by · The Cerbat Gem

RGC Resources (NASDAQ:RGCO – Get Free Report) issued its quarterly earnings data on Thursday. The energy company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.05), Zacks reports. RGC Resources had a return on equity of 11.56% and a net margin of 13.93%.

RGC Resources Stock Performance

Shares of NASDAQ RGCO traded down $0.14 during mid-day trading on Thursday, reaching $22.49. 14,771 shares of the company’s stock were exchanged, compared to its average volume of 12,094. The firm has a 50-day moving average price of $21.86 and a two-hundred day moving average price of $21.73. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.03 and a quick ratio of 0.59. The firm has a market capitalization of $232.77 million, a price-to-earnings ratio of 17.57 and a beta of 0.52. RGC Resources has a 52 week low of $19.50 and a 52 week high of $23.82.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 16th were paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio (DPR) is presently 67.97%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Get Our Latest Research Report on RGC Resources

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in shares of RGC Resources during the 3rd quarter worth approximately $282,000. Citadel Advisors LLC grew its stake in shares of RGC Resources by 37.9% during the 3rd quarter. Citadel Advisors LLC now owns 19,478 shares of the energy company’s stock worth $437,000 after acquiring an additional 5,353 shares during the period. Squarepoint Ops LLC increased its holdings in RGC Resources by 104.0% in the 3rd quarter. Squarepoint Ops LLC now owns 19,396 shares of the energy company’s stock worth $435,000 after acquiring an additional 9,887 shares during the last quarter. BNP Paribas Financial Markets raised its stake in RGC Resources by 80.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after acquiring an additional 812 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in RGC Resources by 23.2% during the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after purchasing an additional 43,900 shares during the last quarter. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

RGC Resources Company Profile

(Get Free Report)

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.

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