RGC Resources Inc. (NASDAQ:RGCO) Plans Quarterly Dividend of $0.22

Key Points

• Declared quarterly dividend of $0.2175 per share (ex-dividend/record date April 17, payable May 1), implying an annual yield of about 3.9%; RGC has raised its dividend for 22 consecutive years and pays at a roughly 67% payout ratio, indicating coverage by earnings.
• Q4 results: EPS $0.47 missed estimates while revenue of $30.26M beat expectations; the stock trades near $22 with a market cap of about $229M and a trailing P/E of ~17.8.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) declared a quarterly dividend on Tuesday, March 31st. Shareholders of record on Friday, April 17th will be paid a dividend of 0.2175 per share by the energy company on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, April 17th.

RGC Resources has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 22 years. RGC Resources has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect RGC Resources to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 67.4%.

RGC Resources Stock Up 0.2%

Shares of NASDAQ RGCO opened at $22.05 on Wednesday. The stock has a market capitalization of $229.19 million, a PE ratio of 17.78 and a beta of 0.52. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average of $21.74 and a 200-day moving average of $21.78. RGC Resources has a 52-week low of $19.68 and a 52-week high of $23.82.

RGC Resources (NASDAQ:RGCO - Get Free Report) last issued its earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). RGC Resources had a return on equity of 11.11% and a net margin of 13.11%.The firm had revenue of $30.26 million during the quarter, compared to analysts' expectations of $28.21 million. On average, analysts anticipate that RGC Resources will post 1.23 EPS for the current year.

Hedge Funds Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of RGC Resources during the fourth quarter valued at approximately $212,000. Barclays PLC boosted its stake in shares of RGC Resources by 11.0% in the fourth quarter. Barclays PLC now owns 12,985 shares of the energy company's stock valued at $277,000 after purchasing an additional 1,288 shares during the period. Kestra Advisory Services LLC acquired a new stake in RGC Resources during the 4th quarter valued at $119,000. State Street Corp grew its holdings in RGC Resources by 1.8% during the 4th quarter. State Street Corp now owns 109,804 shares of the energy company's stock valued at $2,339,000 after purchasing an additional 1,898 shares in the last quarter. Finally, Martingale Asset Management L P increased its stake in RGC Resources by 3.6% during the 4th quarter. Martingale Asset Management L P now owns 17,738 shares of the energy company's stock worth $378,000 after buying an additional 616 shares during the period. Hedge funds and other institutional investors own 35.77% of the company's stock.

About RGC Resources

RGC Resources, Inc NASDAQ: RGCO is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.

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