Zacks: RGC Resources Inc. (RGCO) Given Average Rating of “Hold” by Brokerages

RGC Resources Inc. (NASDAQ:RGCO) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.

Brokers have set a 1-year consensus target price of $28.00 for the company and are forecasting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 96 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research downgraded RGC Resources from a “hold” rating to a “sell” rating in a research note on Wednesday.

In related news, COO C James Shockley, Jr. sold 1,469 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $28.00, for a total value of $41,132.00. Following the transaction, the chief operating officer now directly owns 8,297 shares of the company’s stock, valued at approximately $232,316. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Orazio John S. D sold 1,713 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $28.00, for a total value of $47,964.00. Following the completion of the transaction, the chief executive officer now directly owns 44,988 shares in the company, valued at $1,259,664. The disclosure for this sale can be found here. Over the last three months, insiders purchased 163 shares of company stock worth $4,485 and sold 8,599 shares worth $240,847. 7.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in shares of RGC Resources by 1,902.2% in the 3rd quarter. Captrust Financial Advisors now owns 36,040 shares of the energy company’s stock valued at $963,000 after purchasing an additional 34,240 shares during the last quarter. Vanguard Group Inc. grew its holdings in RGC Resources by 1.0% in the third quarter. Vanguard Group Inc. now owns 290,295 shares of the energy company’s stock valued at $7,754,000 after purchasing an additional 2,952 shares during the period. BlackRock Inc. grew its holdings in RGC Resources by 0.7% in the third quarter. BlackRock Inc. now owns 356,328 shares of the energy company’s stock valued at $9,517,000 after purchasing an additional 2,630 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in RGC Resources in the fourth quarter valued at approximately $218,000. Finally, Dimensional Fund Advisors LP grew its holdings in RGC Resources by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 110,244 shares of the energy company’s stock valued at $2,944,000 after purchasing an additional 6,736 shares during the period.

Shares of RGC Resources stock traded up $0.24 during trading hours on Monday, reaching $25.88. 2,467 shares of the stock traded hands, compared to its average volume of 6,513. The company has a market cap of $206.99 million, a P/E ratio of 27.24 and a beta of -0.37. RGC Resources has a one year low of $23.70 and a one year high of $31.33. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 1.10.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Monday, February 4th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). The firm had revenue of $21.22 million for the quarter, compared to the consensus estimate of $19.15 million. RGC Resources had a net margin of 11.28% and a return on equity of 9.61%. Research analysts anticipate that RGC Resources will post 1.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.55%. RGC Resources’s dividend payout ratio (DPR) is presently 32.63%.

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 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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