Shares of RGC Resources Inc. (NASDAQ:RGCO) have earned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokerages have set a 12 month consensus price target of $28.00 for the company and are anticipating that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned RGC Resources an industry rank of 178 out of 257 based on the ratings given to related companies.
Separately, Zacks Investment Research raised RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, August 10th.
Shares of NASDAQ RGCO opened at $27.72 on Friday. RGC Resources has a 52 week low of $22.16 and a 52 week high of $31.33. The company has a quick ratio of 0.29, a current ratio of 0.54 and a debt-to-equity ratio of 0.72. The company has a market cap of $219.24 million, a P/E ratio of 29.18 and a beta of -0.14.
RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Thursday, November 15th. The energy company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. RGC Resources had a return on equity of 9.60% and a net margin of 11.14%. The company had revenue of $9.97 million during the quarter, compared to analysts’ expectations of $10.40 million. As a group, equities research analysts anticipate that RGC Resources will post 1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.38%. This is a positive change from RGC Resources’s previous quarterly dividend of $0.16. RGC Resources’s dividend payout ratio (DPR) is 65.26%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers bought a new position in shares of RGC Resources during the second quarter worth approximately $206,000. Bank of America Corp DE increased its stake in shares of RGC Resources by 59.6% during the second quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after purchasing an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of RGC Resources during the second quarter worth approximately $212,000. First Trust Advisors LP bought a new position in shares of RGC Resources during the second quarter worth approximately $227,000. Finally, Renaissance Technologies LLC bought a new position in shares of RGC Resources during the third quarter worth approximately $296,000.
RGC Resources Company Profile
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 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.
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