RGC Resources (NASDAQ:RGCO) Issues Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• RGC Resources reported earnings of $0.05 EPS for the quarter, exceeding analysts' estimates of $0.02 by $0.03.
• The company’s stock price increased by $0.30 to reach $21.58, with a market capitalization of $222.53 million.
• Wall Street Zen upgraded RGC Resources from a "hold" to a "buy" rating, reflecting increased investor confidence in the company.

RGC Resources (NASDAQ:RGCO - Get Free Report) posted its earnings results on Monday. The energy company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03, Zacks reports. RGC Resources had a return on equity of 11.86% and a net margin of 14.50%.

RGC Resources Stock Performance

Shares of RGCO stock traded up $0.30 on Monday, reaching $21.58. The stock had a trading volume of 18,637 shares, compared to its average volume of 13,918. The stock has a market cap of $222.53 million, a P/E ratio of 16.86 and a beta of 0.46. RGC Resources has a 1 year low of $19.06 and a 1 year high of $24.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.57. The company has a 50 day simple moving average of $21.36 and a 200 day simple moving average of $21.14.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised RGC Resources from a "hold" rating to a "buy" rating in a report on Sunday, July 6th.

Hedge Funds Weigh In On RGC Resources

A hedge fund recently raised its stake in RGC Resources stock. Geode Capital Management LLC lifted its position in RGC Resources Inc. (NASDAQ:RGCO - Free Report) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,394 shares of the energy company's stock after buying an additional 1,701 shares during the period. Geode Capital Management LLC owned approximately 1.92% of RGC Resources worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 35.77% of the stock is currently owned by institutional investors.

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.

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