RGC Resources (NASDAQ:RGCO) Posts Earnings Results

RGC Resources (NASDAQ:RGCO) posted its earnings results on Wednesday. The energy company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02), Zacks reports. RGC Resources had a return on equity of 12.89% and a net margin of 14.75%. The firm had revenue of $32.66 million for the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter last year, the company posted $0.64 EPS.

RGC Resources Stock Up 0.6 %

Shares of RGCO traded up $0.13 during mid-day trading on Thursday, reaching $21.07. The company had a trading volume of 3,240 shares, compared to its average volume of 16,317. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. The firm has a 50-day moving average price of $19.91 and a 200 day moving average price of $19.06. RGC Resources has a 52 week low of $15.36 and a 52 week high of $22.53. The company has a market capitalization of $214.07 million, a price-to-earnings ratio of 16.08 and a beta of 0.21.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 16th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.80%. RGC Resources’s dividend payout ratio is currently 61.07%.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th.

Insider Transactions at RGC Resources

In related news, Director Robert B. Johnston purchased 1,715 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $18.78 per share, with a total value of $32,207.70. Following the transaction, the director now directly owns 63,005 shares in the company, valued at approximately $1,183,233.90. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 2,310 shares of company stock valued at $43,206 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.