RGC Resources, Inc. Announces Quarterly Dividend of $0.21 (NASDAQ:RGCO)

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Shareholders of record on Friday, July 18th will be given a dividend of 0.2075 per share by the energy company on Friday, August 1st. This represents a $0.83 annualized dividend and a dividend yield of 3.90%.

RGC Resources has raised its dividend payment by an average of 2.5% per year 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 64.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RGC Resources to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 64.3%.

RGC Resources Stock Performance

RGCO opened at $21.28 on Wednesday. The business’s 50-day moving average price is $20.93 and its two-hundred day moving average price is $20.78. RGC Resources has a 1 year low of $19.05 and a 1 year high of $24.20. The company has a market capitalization of $219.12 million, a price-to-earnings ratio of 18.19 and a beta of 0.31. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Equities analysts expect that RGC Resources will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised RGC Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th.

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.