RGC Resources Inc. (RGCO) Given $28.00 Consensus Target Price by Brokerages

RGC Resources Inc. (NASDAQ:RGCO) has received an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.

Brokers have set a 12-month consensus price target of $28.00 for the company and are predicting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned RGC Resources an industry rank of 110 out of 257 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded RGC Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGCO. Rhumbline Advisers bought a new stake in shares of RGC Resources during the 2nd quarter worth $206,000. Bank of America Corp DE raised its stake in RGC Resources by 59.6% in the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after acquiring an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in RGC Resources in the 2nd quarter valued at about $212,000. First Trust Advisors LP bought a new stake in RGC Resources in the 2nd quarter valued at about $227,000. Finally, LPL Financial LLC bought a new stake in RGC Resources in the 1st quarter valued at about $249,000.

Shares of NASDAQ RGCO traded up $0.07 during mid-day trading on Wednesday, reaching $28.81. 4,200 shares of the company’s stock were exchanged, compared to its average volume of 9,896. The stock has a market capitalization of $224.27 million, a price-to-earnings ratio of 33.50 and a beta of -0.14. RGC Resources has a 52 week low of $22.16 and a 52 week high of $31.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.54 and a quick ratio of 0.29.

The firm also recently announced a dividend, which was paid on Thursday, November 1st. Stockholders of record on Monday, October 15th were paid a dividend of $0.155 per share. The ex-dividend date was Friday, October 12th. RGC Resources’s payout ratio is 72.09%.

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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