Zacks: RGC Resources Inc. (RGCO) Receives Average Rating of “Hold” from Analysts

RGC Resources Inc. (NASDAQ:RGCO) has been given a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating. RGC Resources’ rating score has declined by 200% from 90 days ago as a result of a number of analysts’ ratings changes.

Analysts have set a one year consensus price target of $28.00 for the company and are forecasting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned RGC Resources an industry rank of 108 out of 255 based on the ratings given to related companies.

A number of research firms have issued reports on RGCO. Janney Montgomery Scott cut shares of RGC Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, June 7th. Zacks Investment Research cut shares of RGC Resources from a “buy” rating to a “hold” rating in a research note on Friday, May 11th. Seaport Global Securities began coverage on shares of RGC Resources in a research note on Tuesday, April 17th. They issued a “neutral” rating for the company. Finally, TheStreet upgraded shares of RGC Resources from a “c+” rating to a “b+” rating in a research note on Friday, March 9th.



Hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC acquired a new stake in RGC Resources in the first quarter valued at approximately $249,000. Deutsche Bank AG lifted its stake in shares of RGC Resources by 140.9% in the fourth quarter. Deutsche Bank AG now owns 15,259 shares of the energy company’s stock worth $411,000 after buying an additional 8,924 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of RGC Resources by 86.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,201 shares of the energy company’s stock worth $520,000 after buying an additional 8,919 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of RGC Resources by 63.0% in the first quarter. Commonwealth Equity Services LLC now owns 22,796 shares of the energy company’s stock worth $579,000 after buying an additional 8,811 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of RGC Resources by 18.0% in the first quarter. UBS Group AG now owns 41,556 shares of the energy company’s stock worth $1,056,000 after buying an additional 6,327 shares during the last quarter.

RGC Resources traded up $0.29, reaching $28.79, on Friday, according to MarketBeat.com. 100 shares of the company traded hands, compared to its average volume of 9,217. RGC Resources has a 52-week low of $22.16 and a 52-week high of $31.57. The company has a market capitalization of $227.34 million, a PE ratio of 33.00 and a beta of -0.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.15.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Tuesday, May 1st. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.12). The business had revenue of $24.92 million during the quarter, compared to analyst estimates of $23.20 million. RGC Resources had a net margin of 9.65% and a return on equity of 9.29%. equities analysts forecast that RGC Resources will post 0.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Monday, July 16th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, July 13th. RGC Resources’s dividend payout ratio (DPR) is presently 72.09%.

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 1,135 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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