RGC Resources (NASDAQ:RGCO) Issues Quarterly Earnings Results

RGC Resources (NASDAQ:RGCO) issued its quarterly earnings results on Wednesday. The energy company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02), Zacks reports. The business had revenue of $32.66 million during the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a return on equity of 12.89% and a net margin of 14.75%. During the same period in the prior year, the business posted $0.64 EPS.

RGC Resources Price Performance

Shares of RGC Resources stock remained flat at $20.94 on Thursday. The stock had a trading volume of 4,323 shares, compared to its average volume of 16,329. The firm has a market capitalization of $212.75 million, a P/E ratio of 16.08 and a beta of 0.21. RGC Resources has a 1-year low of $15.36 and a 1-year high of $22.53. The business has a 50-day simple moving average of $19.91 and a 200-day simple moving average of $19.06. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.54 and a quick ratio of 0.36.

RGC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Monday, April 15th. RGC Resources’s dividend payout ratio (DPR) is 61.07%.

Insider Activity

In other RGC Resources news, Director Robert B. Johnston acquired 1,715 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average cost of $18.78 per share, for a total transaction of $32,207.70. Following the completion of the transaction, the director now directly owns 63,005 shares of the company’s stock, valued at $1,183,233.90. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired 2,310 shares of company stock worth $43,206 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, TheStreet raised RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th.

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.