RGC Resources (NASDAQ:RGCO) Posts Earnings Results, Misses Expectations By $0.02 EPS

RGC Resources (NASDAQ:RGCO) released its earnings results on Wednesday. The energy company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02), Zacks reports. The firm had revenue of $32.66 million for the quarter, compared to analysts’ expectations of $34.00 million. RGC Resources had a return on equity of 12.89% and a net margin of 14.75%. During the same quarter in the previous year, the company posted $0.64 earnings per share.

RGC Resources Price Performance

RGC Resources stock remained flat at $20.94 during mid-day trading on Thursday. 4,079 shares of the company’s stock traded hands, compared to its average volume of 16,327. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. The stock has a market cap of $212.75 million, a PE ratio of 16.08 and a beta of 0.21. The business has a 50-day moving average of $19.91 and a two-hundred day moving average of $19.06. RGC Resources has a one year low of $15.36 and a one year high of $22.53.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $0.80 annualized dividend and a yield of 3.82%. RGC Resources’s dividend payout ratio is currently 61.07%.

Insider Transactions at RGC Resources

In other RGC Resources news, Director Robert B. Johnston purchased 1,715 shares of the stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $18.78 per share, for a total transaction of $32,207.70. Following the acquisition, the director now directly owns 63,005 shares of the company’s stock, valued at $1,183,233.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have acquired 2,310 shares of company stock worth $43,206. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th.

RGC Resources Company Profile

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.