RGC Resources (NASDAQ:RGCO) Releases Earnings Results

RGC Resources (NASDAQ:RGCO) issued its quarterly earnings data on Thursday. The energy company reported $1.29 earnings per share for the quarter, RTT News reports. RGC Resources had a net margin of 13.93% and a return on equity of 11.52%.

RGC Resources Trading Down 1.9%

RGCO traded down $0.43 during trading on Thursday, reaching $22.12. 5,106 shares of the stock traded hands, compared to its average volume of 8,879. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average is $21.64 and its 200 day moving average is $21.64. RGC Resources has a 12 month low of $19.06 and a 12 month high of $23.82. The stock has a market capitalization of $228.50 million, a PE ratio of 17.28 and a beta of 0.52.

RGC Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 16th will be given a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a yield of 3.9%. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, January 16th. RGC Resources’s payout ratio is currently 64.84%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RGCO. Wall Street Zen downgraded RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of RGC Resources in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Investors Weigh In On RGC Resources

Several institutional investors and hedge funds have recently made changes to their positions in RGCO. Russell Investments Group Ltd. lifted its holdings in shares of RGC Resources by 23.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock worth $5,236,000 after purchasing an additional 43,900 shares in the last quarter. Focus Partners Wealth acquired a new position in RGC Resources during the third quarter worth $282,000. Squarepoint Ops LLC lifted its stake in shares of RGC Resources by 104.0% in the third quarter. Squarepoint Ops LLC now owns 19,396 shares of the energy company’s stock valued at $435,000 after buying an additional 9,887 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of RGC Resources by 37.9% in the third quarter. Citadel Advisors LLC now owns 19,478 shares of the energy company’s stock valued at $437,000 after buying an additional 5,353 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of RGC Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after buying an additional 2,678 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.