Shares of RGC Resources Inc. (NASDAQ:RGCO) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus price objective of $30.00 for the company and are forecasting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 107 out of 256 based on the ratings given to its competitors.
RGCO has been the subject of several recent research reports. 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 lowered RGC Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th.
In related news, CEO Orazio John S. D sold 3,000 shares of RGC Resources stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $27.25, for a total value of $81,750.00. Following the completion of the transaction, the chief executive officer now owns 44,034 shares in the company, valued at $1,199,926.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 185 shares of company stock valued at $5,328. 7.30% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in shares of RGC Resources by 231.2% during the second quarter. Bank of Montreal Can now owns 914 shares of the energy company’s stock valued at $27,000 after buying an additional 638 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of RGC Resources by 526.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,541 shares of the energy company’s stock valued at $41,000 after buying an additional 1,295 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of RGC Resources during the fourth quarter valued at approximately $76,000. MetLife Investment Advisors LLC purchased a new position in shares of RGC Resources during the fourth quarter valued at approximately $104,000. Finally, SG Americas Securities LLC purchased a new position in shares of RGC Resources during the first quarter valued at approximately $153,000.
Shares of RGC Resources stock traded up $0.69 during trading on Thursday, reaching $27.79. 6,200 shares of the stock traded hands, compared to its average volume of 7,164. The firm has a market cap of $220.58 million, a P/E ratio of 29.25 and a beta of -0.18. The firm’s fifty day moving average price is $28.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.56 and a quick ratio of 0.34. RGC Resources has a 52-week low of $24.16 and a 52-week high of $31.00.
RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The company had revenue of $11.68 million during the quarter, compared to analyst estimates of $12.55 million. RGC Resources had a return on equity of 10.81% and a net margin of 13.10%. On average, sell-side analysts predict that RGC Resources will post 1.06 EPS for the current year.
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 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.
Further Reading: Gross Domestic Product (GDP)
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.