RGC Resources Inc. Expected to Post FY2019 Earnings of $1.02 Per Share (RGCO)
RGC Resources Inc. (NASDAQ:RGCO) – Equities research analysts at Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for shares of RGC Resources in a research note issued on Tuesday, December 4th. Seaport Global Securities analyst M. Levin expects that the energy company will post earnings of $1.02 per share for the year. Seaport Global Securities also issued estimates for RGC Resources’ FY2020 earnings at $1.08 EPS.
RGC Resources (NASDAQ:RGCO) last posted its earnings results on Thursday, November 15th. The energy company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The business had revenue of $9.97 million during the quarter, compared to analyst estimates of $10.40 million. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%.
RGCO stock opened at $26.54 on Friday. The firm has a market capitalization of $219.54 million, a PE ratio of 27.94 and a beta of -0.15. RGC Resources has a 1 year low of $22.16 and a 1 year high of $31.33. The company has a current ratio of 0.65, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be paid a $0.165 dividend. This is an increase from RGC Resources’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, January 14th. RGC Resources’s dividend payout ratio (DPR) is 65.26%.
In other news, VP Robert L. Wells II sold 1,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $28.00, for a total value of $28,000.00. Following the transaction, the vice president now directly owns 12,549 shares in the company, valued at approximately $351,372. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP C James Shockley, Jr. sold 2,900 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $28.00, for a total value of $81,200.00. Following the completion of the transaction, the vice president now owns 6,568 shares in the company, valued at $183,904. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 254 shares of company stock worth $7,004 and sold 4,755 shares worth $132,909. Company insiders own 8.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in shares of RGC Resources in the 2nd quarter worth $206,000. Bank of America Corp DE boosted its stake in shares of RGC Resources by 59.6% in the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after buying an additional 2,650 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of RGC Resources in the 2nd quarter worth $212,000. First Trust Advisors LP purchased a new position in shares of RGC Resources in the 2nd quarter worth $227,000. Finally, Renaissance Technologies LLC purchased a new position in shares of RGC Resources in the 3rd quarter worth $296,000.
About RGC Resources
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.
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