RGC Resources Inc. (NASDAQ:RGCO) Short Interest Down 10.3% in January

RGC Resources Inc. (NASDAQ:RGCO) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 40,100 shares, a decline of 10.3% from the January 15th total of 44,700 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 13,100 shares, the days-to-cover ratio is currently 3.1 days.

RGCO traded down $0.10 on Friday, reaching $26.40. 68,291 shares of the company’s stock were exchanged, compared to its average volume of 23,038. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.21 and a quick ratio of 0.81. The stock has a market cap of $215.05 million, a PE ratio of 20.69 and a beta of -0.22. The stock’s fifty day moving average price is $26.74 and its 200-day moving average price is $28.23. RGC Resources has a twelve month low of $24.95 and a twelve month high of $31.00.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Friday, February 7th. The energy company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.17. The company had revenue of $19.79 million for the quarter, compared to analyst estimates of $22.00 million. RGC Resources had a net margin of 15.42% and a return on equity of 12.11%. As a group, research analysts predict that RGC Resources will post 1.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.65%. This is a positive change from RGC Resources’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, April 14th.

In other RGC Resources news, CEO Paul W. Nester purchased 1,100 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $25.56 per share, for a total transaction of $28,116.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 1,321 shares of company stock worth $34,268 over the last 90 days. 7.20% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in RGC Resources by 47.5% in the 4th quarter. Citigroup Inc. now owns 1,507 shares of the energy company’s stock valued at $43,000 after purchasing an additional 485 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in RGC Resources by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,360 shares of the energy company’s stock valued at $525,000 after purchasing an additional 747 shares during the last quarter. Rhumbline Advisers boosted its holdings in RGC Resources by 8.8% in the 3rd quarter. Rhumbline Advisers now owns 11,885 shares of the energy company’s stock valued at $348,000 after purchasing an additional 964 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in RGC Resources by 13.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,167 shares of the energy company’s stock valued at $501,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Trust Co. of Virginia VA boosted its holdings in RGC Resources by 4.8% in the 4th quarter. Trust Co. of Virginia VA now owns 56,512 shares of the energy company’s stock valued at $1,615,000 after purchasing an additional 2,599 shares during the last quarter.

A number of equities analysts recently weighed in on RGCO shares. Zacks Investment Research upgraded shares of RGC Resources from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Thursday. ValuEngine lowered shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

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 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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