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

RGC Resources (NASDAQ:RGCO) issued its quarterly earnings results on Wednesday. The energy company reported ($0.02) EPS for the quarter, topping the consensus estimate 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

Shares of NASDAQ RGCO traded down $0.73 during midday trading on Wednesday, reaching $21.08. The company’s stock 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 quick ratio of 0.66 and a current ratio of 1.04. The company has a market cap of $217.67 million, a P/E ratio of 16.09 and a beta of 0.50. The business’s 50 day moving average price is $21.70 and its two-hundred day moving average price is $21.58. RGC Resources has a fifty-two week low of $19.06 and a fifty-two week high of $23.82.

RGC Resources Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RGCO shares. Wall Street Zen cut shares of RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RGC Resources in a research report on Thursday, November 13th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, RGC Resources currently has an average rating of “Hold”.

Hedge Funds Weigh In On RGC Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after acquiring an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets increased its position 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 purchasing an additional 812 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after purchasing an additional 2,299 shares during the last quarter. Focus Partners Wealth acquired a new stake in RGC Resources in the third quarter valued at approximately $282,000. Finally, JPMorgan Chase & Co. grew its stake in shares of RGC Resources by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock worth $284,000 after buying an additional 2,502 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

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.