RGC Resources (NASDAQ:RGCO) Issues Earnings Results, Misses Expectations By $0.05 EPS

RGC Resources (NASDAQ:RGCO) released its quarterly earnings results on Thursday. The energy company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05), Zacks reports. RGC Resources had a net margin of 13.93% and a return on equity of 11.56%. The company had revenue of $30.26 million during the quarter, compared to the consensus estimate of $28.21 million.

RGC Resources Stock Down 0.7%

Shares of RGC Resources stock traded down $0.17 during midday trading on Friday, hitting $22.33. The company had a trading volume of 187 shares, compared to its average volume of 11,614. RGC Resources has a 52-week low of $19.50 and a 52-week high of $23.82. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.59 and a current ratio of 1.03. The stock has a market capitalization of $231.06 million, a P/E ratio of 17.44 and a beta of 0.52. The company has a 50 day moving average of $21.87 and a 200 day moving average of $21.74.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 16th were issued a dividend of $0.2175 per share. The ex-dividend date was Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. This represents a $0.87 annualized dividend and a dividend yield of 3.9%. RGC Resources’s dividend payout ratio (DPR) is 67.97%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On RGC Resources

A number of institutional investors have recently modified their holdings of the stock. Focus Partners Wealth bought a new position in RGC Resources in the 3rd quarter worth about $282,000. Citadel Advisors LLC lifted its stake in shares of RGC Resources by 37.9% in the third quarter. Citadel Advisors LLC now owns 19,478 shares of the energy company’s stock worth $437,000 after buying an additional 5,353 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of RGC Resources by 104.0% during the third quarter. Squarepoint Ops LLC now owns 19,396 shares of the energy company’s stock valued at $435,000 after buying an additional 9,887 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after acquiring an additional 812 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of RGC Resources by 23.2% during the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after acquiring an additional 43,900 shares in the last quarter. 35.77% of the stock is owned by hedge funds and other 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.