RGC Resources Inc. (NASDAQ:RGCO) Short Interest Down 19.3% in December

RGC Resources Inc. (NASDAQ:RGCO) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 57,187 shares, a decrease of 19.3% from the December 15th total of 70,864 shares. Based on an average daily volume of 13,258 shares, the days-to-cover ratio is presently 4.3 days. Approximately 0.6% of the shares of the stock are short sold. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 13,258 shares, the days-to-cover ratio is presently 4.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in RGC Resources by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock valued at $283,000 after buying an additional 668 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of RGC Resources during the 2nd quarter worth about $59,000. Prospera Financial Services Inc bought a new stake in shares of RGC Resources in the 2nd quarter valued at about $3,544,000. Los Angeles Capital Management LLC acquired a new stake in shares of RGC Resources in the 2nd quarter valued at approximately $381,000. Finally, Geode Capital Management LLC raised its position in shares of RGC Resources by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock valued at $4,441,000 after acquiring an additional 1,701 shares during the period. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Trading Down 0.5%

Shares of NASDAQ RGCO traded down $0.10 during mid-day trading on Tuesday, hitting $21.52. The company’s stock had a trading volume of 1,205 shares, compared to its average volume of 12,525. RGC Resources has a one year low of $19.50 and a one year high of $23.82. The company’s fifty day simple moving average is $21.88 and its 200-day simple moving average is $21.79. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.03 and a quick ratio of 0.59. The stock has a market cap of $222.73 million, a price-to-earnings ratio of 16.81 and a beta of 0.53.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Thursday, December 4th. The energy company reported $1.29 earnings per share for the quarter. RGC Resources had a net margin of 13.93% and a return on equity of 11.56%. During the same quarter in the prior year, the business earned $1.16 earnings per share. On average, sell-side analysts anticipate that RGC Resources will post 1.23 earnings per share for the current fiscal year.

RGC Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be paid a $0.2175 dividend. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.0%. RGC Resources’s dividend payout ratio (DPR) is currently 67.97%.

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.