RGC Resources Inc. (RGCO) Given $28.00 Average Target Price by Analysts

RGC Resources Inc. (NASDAQ:RGCO) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.

Brokers have set a 12-month consensus price target of $28.00 for the company and are forecasting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 102 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th.

In related news, CEO Orazio John S. D sold 1,713 shares of RGC Resources stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $28.00, for a total transaction of $47,964.00. Following the completion of the sale, the chief executive officer now owns 44,988 shares in the company, valued at approximately $1,259,664. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Orazio John S. D sold 4,900 shares of RGC Resources stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $28.00, for a total value of $137,200.00. Following the sale, the chief executive officer now owns 46,167 shares of the company’s stock, valued at approximately $1,292,676. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 156 shares of company stock valued at $4,487 and have sold 9,561 shares valued at $267,783. Company insiders own 7.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY acquired a new stake in RGC Resources in the 4th quarter worth about $76,000. MetLife Investment Advisors LLC acquired a new stake in RGC Resources in the 4th quarter worth about $104,000. Bank of America Corp DE boosted its stake in RGC Resources by 59.6% in the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after buying an additional 2,650 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in RGC Resources in the 4th quarter worth about $218,000. Finally, Rhumbline Advisers acquired a new stake in RGC Resources in the 4th quarter worth about $312,000.

RGCO stock traded up $0.92 during trading on Friday, reaching $28.11. The company had a trading volume of 10,689 shares, compared to its average volume of 5,974. The stock has a market capitalization of $223.84 million, a PE ratio of 29.59 and a beta of -0.36. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 1.10. RGC Resources has a twelve month low of $23.00 and a twelve month high of $31.33.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 4th. The energy company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The business had revenue of $21.22 million for the quarter, compared to analyst estimates of $19.15 million. RGC Resources had a net margin of 11.28% and a return on equity of 9.61%. On average, equities research analysts expect that RGC Resources will post 1.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, April 12th. RGC Resources’s dividend payout ratio is currently 32.63%.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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