RGC Resources (NASDAQ:RGCO) Issues Quarterly Earnings Results

RGC Resources (NASDAQ:RGCO) announced its quarterly earnings data on Wednesday. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06, FiscalAI reports. RGC Resources had a net margin of 13.11% and a return on equity of 11.11%. The business had revenue of $45.46 million during the quarter, compared to the consensus estimate of $38.20 million.

RGC Resources Price Performance

Shares of NASDAQ:RGCO traded up $0.97 during trading on Thursday, hitting $23.65. 13,959 shares of the company were exchanged, compared to its average volume of 11,458. The business’s 50 day moving average is $22.11 and its 200-day moving average is $21.83. The company has a market capitalization of $245.82 million, a P/E ratio of 19.07 and a beta of 0.52. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. RGC Resources has a 1-year low of $19.68 and a 1-year high of $24.50.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were issued a dividend of $0.2175 per share. The ex-dividend date was Friday, April 17th. This represents a $0.87 annualized dividend and a dividend yield of 3.7%. RGC Resources’s dividend payout ratio is 70.16%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in shares of RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after buying an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after buying an additional 812 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of RGC Resources by 440.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after buying an additional 2,299 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of RGC Resources during the fourth quarter worth $103,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of RGC Resources during the fourth quarter worth $119,000. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of RGC Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, RGC Resources presently has a consensus rating of “Buy”.

RGC Resources Company Profile

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.