RGC Resources (NASDAQ:RGCO) Issues Quarterly Earnings Results

RGC Resources (NASDAQ:RGCO) posted its quarterly earnings results on Wednesday. The energy company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02), Zacks reports. The business had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. RGC Resources had a return on equity of 12.89% and a net margin of 14.75%. During the same quarter in the previous year, the company earned $0.64 earnings per share.

RGC Resources Price Performance

Shares of NASDAQ:RGCO remained flat at $20.94 on Thursday. The stock had a trading volume of 4,079 shares, compared to its average volume of 16,327. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $22.53. The company has a market capitalization of $212.75 million, a PE ratio of 16.08 and a beta of 0.21. The stock’s 50 day simple moving average is $19.91 and its 200 day simple moving average is $19.06. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.54 and a quick ratio of 0.36.

RGC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 16th were given a dividend of $0.20 per share. The ex-dividend date was Monday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. RGC Resources’s dividend payout ratio (DPR) is 61.07%.

Insider Activity at RGC Resources

In other news, Director Robert B. Johnston acquired 1,715 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $18.78 per share, for a total transaction of $32,207.70. Following the completion of the acquisition, the director now directly owns 63,005 shares of the company’s stock, valued at approximately $1,183,233.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 2,310 shares of company stock worth $43,206 over the last three months. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, TheStreet raised shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.