RGC Resources Inc. (NASDAQ:RGCO) Plans Quarterly Dividend of $0.22

RGC Resources Inc. (NASDAQ:RGCO) announced a quarterly dividend on Tuesday, March 31st. Stockholders of record on Friday, April 17th will be paid a dividend of 0.2175 per share by the energy company on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, April 17th.

RGC Resources has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 22 consecutive years. RGC Resources has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RGC Resources to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 67.4%.

RGC Resources Trading Up 0.2%

NASDAQ:RGCO opened at $22.05 on Wednesday. The stock has a market cap of $229.19 million, a price-to-earnings ratio of 17.78 and a beta of 0.52. RGC Resources has a one year low of $19.68 and a one year high of $23.82. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.80. The business’s 50-day simple moving average is $21.74 and its 200 day simple moving average is $21.78.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). RGC Resources had a net margin of 13.11% and a return on equity of 11.11%. The business had revenue of $30.26 million for the quarter, compared to analyst estimates of $28.21 million. As a group, sell-side analysts predict that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on RGCO shares. Weiss Ratings upgraded shares of RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, RGC Resources currently has a consensus rating of “Buy”.

RGC Resources Company Profile

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.