Shares of RGC Resources Inc. (NASDAQ:RGCO) have received an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.
Brokerages have set a 1-year consensus price target of $28.00 for the company and are forecasting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 174 out of 257 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Friday, August 10th.
Shares of RGCO stock traded down $0.46 on Friday, hitting $26.54. The stock had a trading volume of 4,900 shares, compared to its average volume of 9,543. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.65 and a quick ratio of 0.29. The company has a market capitalization of $219.54 million, a P/E ratio of 27.94 and a beta of -0.15. RGC Resources has a one year low of $22.16 and a one year high of $31.33.
RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Thursday, November 15th. The energy company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. The firm had revenue of $9.97 million during the quarter, compared to the consensus estimate of $10.40 million. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be issued a $0.165 dividend. This is an increase from RGC Resources’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, January 14th. RGC Resources’s payout ratio is presently 65.26%.
In other RGC Resources news, VP Robert L. Wells II sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 12,549 shares in the company, valued at $351,372. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP C James Shockley, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $28.00, for a total transaction of $81,200.00. Following the completion of the transaction, the vice president now owns 6,568 shares of the company’s stock, valued at $183,904. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 254 shares of company stock valued at $7,004 and sold 4,755 shares valued at $132,909. Insiders own 8.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers bought a new position in RGC Resources in the second quarter worth about $206,000. Bank of America Corp DE raised its holdings in RGC Resources by 59.6% in the second quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after purchasing an additional 2,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in RGC Resources in the second quarter worth about $212,000. First Trust Advisors LP bought a new position in RGC Resources in the second quarter worth about $227,000. Finally, Renaissance Technologies LLC bought a new position in RGC Resources in the third quarter worth about $296,000.
RGC Resources Company Profile
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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