RGC Resources Inc. (NASDAQ:RGCO) – Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for RGC Resources in a research report issued on Tuesday, December 4th. Seaport Global Securities analyst M. Levin anticipates that the energy company will post earnings of $1.02 per share for the year. Seaport Global Securities also issued estimates for RGC Resources’ FY2020 earnings at $1.08 EPS.
Separately, Zacks Investment Research raised RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Friday, August 10th.
Shares of RGC Resources stock opened at $27.00 on Friday. RGC Resources has a 52-week low of $22.16 and a 52-week high of $31.33. The company has a market capitalization of $219.54 million, a P/E ratio of 28.87 and a beta of -0.15. The company has a current ratio of 0.65, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.
RGC Resources (NASDAQ:RGCO) last announced its earnings results on Thursday, November 15th. The energy company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%. The business had revenue of $9.97 million for the quarter, compared to analyst estimates of $10.40 million.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Rhumbline Advisers bought a new stake in RGC Resources in the 2nd quarter valued at $206,000. Bank of America Corp DE lifted its position in shares of RGC Resources by 59.6% during the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after acquiring an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of RGC Resources during the 2nd quarter valued at $212,000. First Trust Advisors LP bought a new stake in shares of RGC Resources during the 2nd quarter valued at $227,000. Finally, Renaissance Technologies LLC bought a new stake in shares of RGC Resources during the 3rd quarter valued at $296,000.
In related news, VP C James Shockley, Jr. sold 2,900 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $28.00, for a total value of $81,200.00. Following the completion of the sale, the vice president now directly owns 6,568 shares in the company, valued at approximately $183,904. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert L. Wells II sold 1,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $28.00, for a total value of $28,000.00. Following the completion of the sale, the vice president now owns 12,549 shares of the company’s stock, valued at $351,372. The disclosure for this sale can be found here. Insiders purchased a total of 254 shares of company stock valued at $7,004 over the last 90 days. 8.90% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Monday, January 14th. This is an increase from RGC Resources’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 2.44%. RGC Resources’s payout ratio is 65.26%.
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.
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