RGC Resources (NASDAQ:RGCO) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

RGC Resources (NASDAQ:RGCO – Get Free Report) announced its quarterly earnings data on Wednesday. The energy company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01), Zacks reports. RGC Resources had a return on equity of 11.85% and a net margin of 13.05%.The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million.

RGC Resources Trading Down 1.0%

RGCO traded down $0.23 during mid-day trading on Friday, reaching $21.71. The stock had a trading volume of 9,238 shares, compared to its average volume of 12,443. The firm’s fifty day simple moving average is $23.48 and its two-hundred day simple moving average is $22.60. The stock has a market capitalization of $225.96 million, a P/E ratio of 16.24 and a beta of 0.51. RGC Resources has a 52 week low of $20.55 and a 52 week high of $27.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.69.

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RGC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were issued a dividend of $0.2175 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $0.87 annualized dividend and a yield of 4.0%. RGC Resources’s dividend payout ratio is currently 64.93%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently added to or reduced their stakes in RGCO. Martingale Asset Management L P boosted its stake in shares of RGC Resources by 3.6% in the 4th quarter. Martingale Asset Management L P now owns 17,738 shares of the energy company’s stock valued at $378,000 after purchasing an additional 616 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of RGC Resources by 9.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,866 shares of the energy company’s stock worth $1,041,000 after buying an additional 4,298 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in RGC Resources by 9.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,557 shares of the energy company’s stock valued at $310,000 after buying an additional 1,202 shares during the period. Focus Partners Wealth acquired a new position in RGC Resources in the third quarter valued at approximately $282,000. Finally, Citadel Advisors LLC lifted its holdings in RGC Resources by 37.9% in the third quarter. Citadel Advisors LLC now owns 19,478 shares of the energy company’s stock valued at $437,000 after buying an additional 5,353 shares during the period. Institutional investors own 35.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RGCO shares. Weiss Ratings upgraded shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Wall Street Zen upgraded RGC Resources from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, RGC Resources has an average rating of “Buy”.

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RGC Resources Company Profile

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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.

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