RGC Resources, Inc. (RGCO) to Issue Quarterly Dividend of $0.20 on May 1st

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 0.20 per share by the energy company on Wednesday, May 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Monday, April 15th.

RGC Resources has increased its dividend by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. RGC Resources has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect RGC Resources to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 63.0%.

RGC Resources Price Performance

Shares of RGC Resources stock opened at $19.94 on Friday. The firm has a fifty day simple moving average of $19.63 and a 200-day simple moving average of $18.77. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 0.99. RGC Resources has a 1-year low of $15.36 and a 1-year high of $23.80. The stock has a market capitalization of $202.59 million, a price-to-earnings ratio of 15.22 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Monday, February 5th. The energy company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. The business had revenue of $24.42 million during the quarter, compared to analysts’ expectations of $31.00 million. On average, sell-side analysts expect that RGC Resources will post 1.16 earnings per share for the current year.

Insider Activity 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 shares were purchased at an average price of $18.78 per share, with a total value of $32,207.70. Following the acquisition, the director now directly owns 63,005 shares of the company’s stock, valued at approximately $1,183,233.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 2,315 shares of company stock worth $43,302 in the last ninety days. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RGC Resources

Several large investors have recently made changes to their positions in RGCO. Barclays PLC grew its holdings in shares of RGC Resources by 66.6% in the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock worth $37,000 after purchasing an additional 723 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of RGC Resources in the 2nd quarter worth about $53,000. BNP Paribas Arbitrage SNC lifted its position in RGC Resources by 3,127.8% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,905 shares of the energy company’s stock worth $58,000 after buying an additional 2,815 shares in the last quarter. MetLife Investment Management LLC acquired a new position in RGC Resources during the 2nd quarter worth about $84,000. Finally, JPMorgan Chase & Co. acquired a new position in RGC Resources during the 1st quarter worth about $138,000. Institutional investors own 35.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. 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.