RGC Resources Inc. (NASDAQ:RGCO) Short Interest Update

RGC Resources Inc. (NASDAQ:RGCO) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 72,859 shares, an increase of 27.4% from the December 31st total of 57,187 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 13,568 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 13,568 shares, the days-to-cover ratio is currently 5.4 days. Currently, 0.8% of the shares of the company are sold short.

RGC Resources Stock Performance

RGCO traded up $0.50 during trading hours on Tuesday, hitting $22.72. The company’s stock had a trading volume of 8,110 shares, compared to its average volume of 12,232. The company has a 50-day simple moving average of $21.86 and a 200 day simple moving average of $21.73. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $235.15 million, a PE ratio of 17.75 and a beta of 0.52. RGC Resources has a fifty-two week low of $19.50 and a fifty-two week high of $23.82.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Thursday, December 4th. The energy company reported $1.29 EPS for the quarter. RGC Resources had a return on equity of 11.56% and a net margin of 13.93%.During the same quarter last year, the business earned $1.16 EPS. As a group, sell-side analysts expect that RGC Resources will post 1.23 EPS for the current year.

RGC Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 16th were paid a $0.2175 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio (DPR) is currently 67.97%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Trading of RGC Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in RGC Resources by 647.1% during the third quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after buying an additional 1,100 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after acquiring an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of RGC Resources by 45.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock worth $57,000 after purchasing an additional 800 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in shares of RGC Resources in the 2nd quarter worth approximately $59,000. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.