RGC Resources (NASDAQ:RGCO) Releases Earnings Results, Beats Estimates By $0.06 EPS

RGC Resources (NASDAQ:RGCO) released its earnings results on Wednesday. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06, FiscalAI reports. RGC Resources had a return on equity of 12.10% and a net margin of 13.01%.The firm had revenue of $45.46 million for the quarter, compared to the consensus estimate of $38.20 million.

RGC Resources Trading Down 1.6%

Shares of RGCO stock traded down $0.37 on Friday, reaching $23.28. 5,471 shares of the company’s stock were exchanged, compared to its average volume of 11,432. The company’s fifty day simple moving average is $22.16 and its 200 day simple moving average is $21.85. RGC Resources has a 52 week low of $19.68 and a 52 week high of $24.50. The company has a current ratio of 0.80, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $241.84 million, a PE ratio of 17.37 and a beta of 0.52.

RGC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, April 17th. RGC Resources’s dividend payout ratio (DPR) is currently 70.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Weiss Ratings downgraded shares of RGC Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Institutional Trading of RGC Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after buying an additional 812 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after buying an additional 2,299 shares during the period. Los Angeles Capital Management LLC purchased a new stake in RGC Resources in the 4th quarter valued at about $103,000. Finally, Kestra Advisory Services LLC bought a new position in RGC Resources in the 4th quarter worth about $119,000. 35.77% of the stock is currently owned by institutional investors.

About RGC Resources

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.