RGC Resources (NASDAQ:RGCO) Announces Earnings Results

RGC Resources (NASDAQ:RGCO) released its earnings results on Thursday. The energy company reported $1.29 EPS for the quarter, RTT News reports. RGC Resources had a net margin of 13.93% and a return on equity of 11.52%. During the same quarter in the previous year, the company posted $1.16 earnings per share.

RGC Resources Price Performance

Shares of NASDAQ RGCO opened at $22.12 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market cap of $228.50 million, a price-to-earnings ratio of 17.28 and a beta of 0.52. RGC Resources has a 1-year low of $19.06 and a 1-year high of $23.82. The stock has a fifty day simple moving average of $21.64 and a two-hundred day simple moving average of $21.64.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 16th will be paid a $0.2175 dividend. The ex-dividend date is Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. This represents a $0.87 annualized dividend and a yield of 3.9%. RGC Resources’s dividend payout ratio (DPR) is currently 64.84%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RGCO. Wall Street Zen downgraded shares of RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “hold (c+)” rating on shares of RGC Resources in a research note on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its position in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets grew its stake in RGC Resources by 80.9% in the 3rd 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% in the 2nd 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 during the last quarter. Focus Partners Wealth purchased a new stake in shares of RGC Resources during the 3rd quarter valued at $282,000. Finally, JPMorgan Chase & Co. raised its position in shares of RGC Resources by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock valued at $284,000 after buying an additional 2,502 shares in the last quarter. Hedge funds and other 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.