Shares of RGC Resources (NASDAQ:RGCO) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. RGC Resources’ rating score has declined by 100% from three months ago as a result of various analysts’ ratings changes.
Brokers have set a twelve-month consensus target price of $28.00 for the company and are forecasting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 100 out of 265 based on the ratings given to related companies.
A number of equities analysts have commented on RGCO shares. Zacks Investment Research cut RGC Resources from a “buy” rating to a “hold” rating in a research note on Friday, May 11th. TheStreet raised RGC Resources from a “c+” rating to a “b+” rating in a research note on Friday, March 9th. Seaport Global Securities started coverage on RGC Resources in a research note on Tuesday, April 17th. They issued a “neutral” rating on the stock. Finally, Janney Montgomery Scott raised RGC Resources from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, February 6th.
Shares of NASDAQ RGCO opened at $26.62 on Monday. The stock has a market cap of $210.51 million, a P/E ratio of 32.18 and a beta of -0.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.15. RGC Resources has a 1-year low of $26.60 and a 1-year high of $26.92.
RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Tuesday, May 1st. The energy company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.12). The firm had revenue of $24.92 million for the quarter, compared to analysts’ expectations of $23.20 million. RGC Resources had a net margin of 9.65% and a return on equity of 9.29%. equities analysts expect that RGC Resources will post 0.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Monday, July 16th will be paid a $0.155 dividend. The ex-dividend date is Friday, July 13th. This represents a $0.62 dividend on an annualized basis and a yield of 2.33%. RGC Resources’s dividend payout ratio (DPR) is currently 72.09%.
Institutional investors have recently made changes to their positions in the business. LPL Financial LLC purchased a new position in RGC Resources in the 1st quarter worth approximately $249,000. Wells Fargo & Company MN increased its stake in RGC Resources by 67.2% in the 3rd quarter. Wells Fargo & Company MN now owns 10,282 shares of the energy company’s stock worth $293,000 after purchasing an additional 4,131 shares during the period. Deutsche Bank AG increased its stake in RGC Resources by 140.9% in the 4th quarter. Deutsche Bank AG now owns 15,259 shares of the energy company’s stock worth $411,000 after purchasing an additional 8,924 shares during the period. Bank of New York Mellon Corp increased its stake in RGC Resources by 14.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,592 shares of the energy company’s stock worth $588,000 after purchasing an additional 2,601 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in RGC Resources by 63.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 22,796 shares of the energy company’s stock worth $579,000 after purchasing an additional 8,811 shares during the period.
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 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.
Get a free copy of the Zacks research report on RGC Resources (RGCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for RGC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RGC Resources and related companies with MarketBeat.com's FREE daily email newsletter.