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

RGC Resources (NASDAQ:RGCO) issued its quarterly earnings data on Thursday. The energy company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05), Zacks reports. RGC Resources had a net margin of 13.11% and a return on equity of 11.13%. The business had revenue of $30.26 million during the quarter, compared to analyst estimates of $28.21 million.

RGC Resources Stock Down 2.8%

NASDAQ:RGCO traded down $0.64 during trading hours on Friday, hitting $21.85. 10,445 shares of the stock traded hands, compared to its average volume of 11,042. The firm has a 50 day moving average price of $21.85 and a 200 day moving average price of $21.75. The firm has a market cap of $226.15 million, a price-to-earnings ratio of 17.62 and a beta of 0.52. RGC Resources has a fifty-two week low of $19.50 and a fifty-two week high of $23.82. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.28.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, January 16th. This is a boost from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio is presently 67.97%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of 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 during the last quarter. Geneos Wealth Management Inc. raised its position in RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after acquiring an additional 1,068 shares in the last quarter. Geode Capital Management LLC lifted its stake in RGC Resources by 0.9% in the second 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 last quarter. Tower Research Capital LLC TRC grew its position in RGC Resources by 440.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after acquiring an additional 2,299 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of RGC Resources by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after purchasing an additional 2,486 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RGCO. Weiss Ratings reissued a “hold (c)” rating on shares of RGC Resources in a research report on Monday, December 29th. Wall Street Zen lowered RGC Resources from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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.