RGC Resources, Inc. (NASDAQ:RGCO) to Issue $0.20 Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO) declared a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Investors 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 raised its dividend by an average of 4.1% annually over the last three years and has raised its dividend every year for the last 20 years. RGC Resources has a payout ratio of 63.0% meaning 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 Trading Down 1.0 %

Shares of RGCO stock opened at $19.94 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. The stock has a market capitalization of $202.59 million, a P/E ratio of 15.22 and a beta of 0.22. The company has a 50 day moving average price of $19.63 and a 200 day moving average price of $18.78. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.80.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 5th. The energy company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $24.42 million during the quarter, compared to analysts’ expectations of $31.00 million. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. Equities research analysts predict that RGC Resources will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th. StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Thursday, December 28th.

Insiders Place Their Bets

In other news, Director Robert B. Johnston purchased 1,715 shares of the stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $18.78 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 2,315 shares of company stock worth $43,302 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

Institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of RGC Resources by 66.6% during the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock worth $37,000 after buying an additional 723 shares during the last quarter. California State Teachers Retirement System purchased a new stake in shares of RGC Resources during the 2nd quarter worth approximately $53,000. BNP Paribas Arbitrage SNC lifted its position in shares of 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 during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of RGC Resources during the 2nd quarter worth approximately $84,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of RGC Resources during the 1st quarter worth approximately $138,000. Hedge funds and other institutional investors own 35.77% of the company’s stock.

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.