RGC Resources Inc. (NASDAQ:RGCO) Announces Quarterly Dividend of $0.22

RGC Resources Inc. (NASDAQ:RGCO) declared a quarterly dividend on Monday, June 29th. Shareholders of record on Friday, July 17th will be paid a dividend of 0.2175 per share by the energy company on Monday, August 3rd. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, July 17th.

RGC Resources has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 22 years. RGC Resources has a dividend payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings.

RGC Resources Stock Up 0.7%

RGCO stock opened at $23.79 on Tuesday. The stock has a market capitalization of $247.65 million, a P/E ratio of 17.75 and a beta of 0.52. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. RGC Resources has a 12 month low of $19.68 and a 12 month high of $26.63. The firm has a 50-day moving average price of $23.09 and a 200-day moving average price of $22.31.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $45.46 million for the quarter, compared to analyst estimates of $38.20 million. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its position 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 acquiring an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in RGC Resources by 80.9% in the third 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 last quarter. Tower Research Capital LLC TRC increased its position in RGC Resources by 440.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after purchasing an additional 2,299 shares during the period. Los Angeles Capital Management LLC acquired a new stake in RGC Resources during the 4th quarter valued at approximately $103,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of RGC Resources in the 4th quarter valued at $119,000. Institutional investors and hedge funds own 35.77% of the company’s stock.

About RGC Resources

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.