RGC Resources (NASDAQ:RGCO) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

RGC Resources (NASDAQ:RGCO) released its quarterly earnings results on Wednesday. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02), Zacks reports. The firm had revenue of $32.66 million during the quarter, compared to analysts’ expectations of $34.00 million. RGC Resources had a return on equity of 12.94% and a net margin of 15.82%. During the same quarter last year, the business earned $0.64 earnings per share.

RGC Resources Stock Performance

Shares of RGCO stock traded up $0.17 during mid-day trading on Friday, reaching $21.38. 8,015 shares of the company’s stock traded hands, compared to its average volume of 12,239. RGC Resources has a 12 month low of $15.36 and a 12 month high of $22.53. The firm has a 50 day moving average price of $20.01 and a two-hundred day moving average price of $19.11. The firm has a market capitalization of $217.22 million, a PE ratio of 16.45 and a beta of 0.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54.

RGC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, July 17th. RGC Resources’s dividend payout ratio is presently 61.54%.

Insider Buying and Selling

In related news, Director Robert B. Johnston purchased 1,715 shares of RGC Resources stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $18.78 per share, for a total transaction of $32,207.70. Following the completion of the transaction, the director now directly owns 63,005 shares in the company, valued at approximately $1,183,233.90. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 2,320 shares of company stock valued at $43,416. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, TheStreet raised RGC Resources from a “c” rating to a “b-” rating in a research report on Tuesday, February 6th.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.