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

Brokerages have set a one year consensus price target of $28.00 for the company and are anticipating that the company will post $0.32 earnings per share for the current quarter, according to Zacks. Zacks has also assigned RGC Resources an industry rank of 91 out of 256 based on the ratings given to its competitors.

In related news, VP Robert L. Wells II sold 2,431 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $28.00, for a total transaction of $68,068.00. Following the completion of the transaction, the vice president now directly owns 13,980 shares in the company, valued at approximately $391,440. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP C James Shockley, Jr. sold 2,900 shares of the company’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 owns 6,568 shares of the company’s stock, valued at $183,904. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 215 shares of company stock valued at $6,154 and have sold 7,187 shares valued at $201,005. Corporate insiders own 7.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new position in RGC Resources during the 2nd quarter worth approximately $206,000. Bank of America Corp DE increased its position 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. acquired a new position in RGC Resources in the 2nd quarter valued at approximately $212,000. First Trust Advisors LP acquired a new position in RGC Resources in the 2nd quarter valued at approximately $227,000. Finally, Renaissance Technologies LLC acquired a new position in RGC Resources in the 3rd quarter valued at approximately $296,000.

Shares of RGC Resources stock traded up $0.19 on Wednesday, reaching $29.93. 6,500 shares of the stock were exchanged, compared to its average volume of 7,919. RGC Resources has a one year low of $22.16 and a one year high of $31.33. The company has a current ratio of 0.65, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $239.55 million, a PE ratio of 31.51 and a beta of -0.24.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Thursday, November 15th. The energy company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. RGC Resources had a net margin of 11.14% and a return on equity of 9.40%. The company had revenue of $9.97 million during the quarter, compared to the consensus estimate of $10.40 million. Research analysts forecast that RGC Resources will post 1.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, January 14th. This is an increase from RGC Resources’s previous quarterly dividend of $0.16. RGC Resources’s dividend payout ratio is 32.63%.

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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