Analysts Set Expectations for RGC Resources Inc.’s FY2019 Earnings (RGCO)
RGC Resources Inc. (NASDAQ:RGCO) – Equities research analysts at Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for shares of RGC Resources in a report issued on Tuesday, December 4th. Seaport Global Securities analyst M. Levin anticipates that the energy company will earn $1.02 per share for the year. Seaport Global Securities also issued estimates for RGC Resources’ FY2020 earnings at $1.08 EPS.
Separately, Zacks Investment Research raised RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Friday, August 10th.
RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Thursday, November 15th. The energy company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The firm had revenue of $9.97 million for the quarter, compared to analyst estimates of $10.40 million. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, January 14th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.44%. RGC Resources’s payout ratio is presently 65.26%.
In related news, VP C James Shockley, Jr. sold 2,900 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $28.00, for a total transaction of $81,200.00. Following the transaction, the vice president now directly owns 6,568 shares of the company’s stock, valued at approximately $183,904. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert L. Wells II sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $28.00, for a total value of $28,000.00. Following the transaction, the vice president now directly owns 12,549 shares in the company, valued at $351,372. The disclosure for this sale can be found here. Insiders have purchased a total of 254 shares of company stock worth $7,004 over the last three months. 8.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of RGC Resources by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 290,295 shares of the energy company’s stock worth $7,754,000 after acquiring an additional 2,952 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of RGC Resources by 1,902.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,040 shares of the energy company’s stock worth $963,000 after acquiring an additional 34,240 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of RGC Resources during the 3rd quarter worth approximately $296,000. Dimensional Fund Advisors LP boosted its stake in RGC Resources by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 110,244 shares of the energy company’s stock valued at $2,944,000 after purchasing an additional 6,736 shares during the period. Finally, BlackRock Inc. boosted its stake in RGC Resources by 0.7% in the 3rd quarter. BlackRock Inc. now owns 356,328 shares of the energy company’s stock valued at $9,517,000 after purchasing an additional 2,630 shares during the period.
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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