RGC Resources (NASDAQ:RGCO) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

RGC Resources (NASDAQ:RGCO - Get Free Report) released its earnings results on Wednesday. The energy company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.02), Zacks reports. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. The business had revenue of $32.66 million during the quarter, compared to analyst estimates of $34.00 million. During the same period last year, the business posted $0.64 EPS.

RGC Resources Price Performance

RGC Resources stock traded up $0.27 during midday trading on Thursday, reaching $21.21. 10,015 shares of the company were exchanged, compared to its average volume of 16,399. 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 company has a market capitalization of $215.49 million, a price-to-earnings ratio of 16.08 and a beta of 0.21. The firm's 50-day simple moving average is $19.91 and its 200-day simple moving average is $19.06. RGC Resources has a 1 year low of $15.36 and a 1 year high of $22.53.

RGC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Monday, April 15th. RGC Resources's dividend payout ratio is presently 61.07%.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded RGC Resources from a "c" rating to a "b-" rating in a research report on Tuesday, February 6th.

Insider Buying and Selling at RGC Resources

In other RGC Resources 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 $1,183,233.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 2,310 shares of company stock worth $43,206 in the last 90 days. 6.00% of the stock is owned by company insiders.

About RGC Resources

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.