RGC Resources Inc. (NASDAQ:RGCO) Announces Earnings Results

RGC Resources Inc. (NASDAQ:RGCO) released its quarterly earnings data on Monday, July 31st. The energy company reported $0.08 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. RGC Resources had a return on equity of 10.70% and a net margin of 10.01%. The company had revenue of $11.44 million for the quarter.

RGC Resources (RGCO) traded up 5.20% during mid-day trading on Friday, hitting $27.33. The company had a trading volume of 33,598 shares. The company has a market capitalization of $197.65 million, a price-to-earnings ratio of 31.67 and a beta of 0.12. The firm’s 50 day moving average is $27.41 and its 200 day moving average is $23.55. RGC Resources has a 52 week low of $15.41 and a 52 week high of $31.99.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 17th were paid a dividend of $0.145 per share. The ex-dividend date was Thursday, July 13th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.12%. RGC Resources’s payout ratio is 67.70%.

In related news, VP C James Shockley, Jr. sold 4,500 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $27.11, for a total value of $121,995.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders purchased 317 shares of company stock worth $8,572. 8.40% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System bought a new position in shares of RGC Resources during the second quarter worth approximately $334,000. Vanguard Group Inc. boosted its position in shares of RGC Resources by 56.0% in the second quarter. Vanguard Group Inc. now owns 42,896 shares of the energy company’s stock worth $1,215,000 after buying an additional 15,393 shares in the last quarter. Finally, State Street Corp bought a new position in shares of RGC Resources during the second quarter worth approximately $1,950,000.

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RGC Resources Company Profile

RGC Resources, Inc (Resources) is an energy services company. The Company is engaged in the regulated sale and distribution of natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities, through its Roanoke Gas Company (Roanoke Gas) subsidiary.