RGC Resources Inc. (NASDAQ:RGCO) has received an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. RGC Resources’ rating score has improved by 33.3% from three months ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus price objective of $30.00 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 99 out of 256 based on the ratings given to its competitors.
A number of equities research analysts have commented on RGCO shares. Janney Montgomery Scott upgraded RGC Resources from a “neutral” rating to a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research downgraded RGC Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.
In related news, COO C James Shockley, Jr. sold 1,469 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 8,297 shares in the company, valued at approximately $232,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired 167 shares of company stock worth $4,482 in the last 90 days. Company insiders own 7.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of RGCO. GYL Financial Synergies LLC purchased a new stake in shares of RGC Resources in the 1st quarter valued at $385,000. BlackRock Inc. raised its holdings in shares of RGC Resources by 3.3% in the 4th quarter. BlackRock Inc. now owns 368,030 shares of the energy company’s stock valued at $11,025,000 after buying an additional 11,702 shares during the period. Renaissance Technologies LLC purchased a new stake in RGC Resources during the 3rd quarter worth about $296,000. Dalton Greiner Hartman Maher & Co. increased its holdings in RGC Resources by 8.1% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 142,272 shares of the energy company’s stock worth $3,772,000 after purchasing an additional 10,612 shares during the period. Finally, Rhumbline Advisers purchased a new stake in RGC Resources during the 4th quarter worth about $312,000.
NASDAQ:RGCO traded down $0.53 on Friday, reaching $26.51. The company’s stock had a trading volume of 5,698 shares, compared to its average volume of 4,724. RGC Resources has a 12-month low of $24.16 and a 12-month high of $31.33. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $217.55 million, a P/E ratio of 27.91 and a beta of -0.29.
RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, April 29th. The energy company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.10. RGC Resources had a return on equity of 10.93% and a net margin of 12.99%. The company had revenue of $25.28 million for the quarter, compared to the consensus estimate of $25.60 million. Sell-side analysts anticipate that RGC Resources will post 1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a $0.165 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.49%. RGC Resources’s dividend payout ratio is currently 16.84%.
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 1,141 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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