RGC Resources (NASDAQ:RGCO) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

RGC Resources (NASDAQ:RGCO) released its quarterly earnings data on Wednesday. The energy company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, Zacks reports. RGC Resources had a net margin of 14.48% and a return on equity of 12.01%.

RGC Resources Price Performance

NASDAQ RGCO traded down $0.73 on Wednesday, hitting $21.08. The company had a trading volume of 16,885 shares, compared to its average volume of 13,615. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.04 and a quick ratio of 0.66. The company’s fifty day moving average price is $21.70 and its 200-day moving average price is $21.58. The company has a market capitalization of $217.67 million, a PE ratio of 16.09 and a beta of 0.50. RGC Resources has a 12-month low of $19.06 and a 12-month high of $23.82.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 17th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. RGC Resources’s dividend payout ratio (DPR) is currently 63.36%.

Institutional Trading of RGC Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its position in shares of RGC Resources by 200.0% during the 2nd 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 increased its stake in RGC Resources by 80.9% during 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 stake in RGC Resources by 440.4% during 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 in the last quarter. Focus Partners Wealth acquired a new position in shares of RGC Resources during the third quarter valued at approximately $282,000. Finally, JPMorgan Chase & Co. lifted its position in shares of RGC Resources by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock valued at $284,000 after acquiring an additional 2,502 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RGCO shares. Wall Street Zen lowered 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 Thursday, November 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, RGC Resources currently has a consensus rating of “Hold”.

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.