Zacks: Brokerages Set $30.00 Price Target for RGC Resources Inc. (RGCO)

Shares of RGC Resources Inc. (NASDAQ:RGCO) have received an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. RGC Resources’ rating score has improved by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokerages have set a one year consensus price target of $30.00 for the company and are expecting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also assigned RGC Resources an industry rank of 108 out of 256 based on the ratings given to related companies.

Several analysts recently weighed in on the company. Zacks Investment Research raised RGC Resources from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, May 14th. Janney Montgomery Scott raised RGC Resources from a “neutral” rating to a “buy” rating in a research note on Friday, May 10th.

NASDAQ:RGCO traded up $0.81 on Friday, hitting $27.88. 399 shares of the stock were exchanged, compared to its average volume of 4,856. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $219.16 million, a P/E ratio of 29.35 and a beta of -0.35. RGC Resources has a 52 week low of $24.16 and a 52 week high of $31.33.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Monday, April 29th. The energy company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.48 by $0.10. The company had revenue of $25.28 million during the quarter, compared to the consensus estimate of $25.60 million. RGC Resources had a return on equity of 10.93% and a net margin of 12.99%. As a group, equities analysts predict that RGC Resources will post 1.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, July 12th. RGC Resources’s payout ratio is 16.84%.

In other news, COO C James Shockley, Jr. sold 1,469 shares of RGC Resources stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $28.00, for a total transaction of $41,132.00. Following the sale, the chief operating officer now directly owns 8,297 shares of the company’s stock, valued at $232,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Orazio John S. D sold 1,713 shares of RGC Resources stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $28.00, for a total value of $47,964.00. Following the sale, the chief executive officer now directly owns 44,988 shares in the company, valued at $1,259,664. The disclosure for this sale can be found here. Over the last three months, insiders have bought 166 shares of company stock worth $4,481 and have sold 3,312 shares worth $92,736. Company insiders own 7.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of RGCO. BlackRock Inc. lifted its stake in shares of RGC Resources by 0.7% in the third quarter. BlackRock Inc. now owns 356,328 shares of the energy company’s stock worth $9,517,000 after acquiring an additional 2,630 shares during the period. Dimensional Fund Advisors LP lifted its holdings in RGC Resources by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 110,244 shares of the energy company’s stock worth $2,944,000 after buying an additional 6,736 shares during the period. Renaissance Technologies LLC purchased a new stake in RGC Resources during the third quarter worth $296,000. Vanguard Group Inc. lifted its holdings in RGC Resources by 1.0% during the third quarter. Vanguard Group Inc. now owns 290,295 shares of the energy company’s stock worth $7,754,000 after buying an additional 2,952 shares during the period. Finally, Vanguard Group Inc lifted its holdings in RGC Resources by 1.0% during the third quarter. Vanguard Group Inc now owns 290,295 shares of the energy company’s stock worth $7,754,000 after buying an additional 2,952 shares during the period.

About RGC Resources

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.

Recommended Story: Why are percentage decliners important?

Get a free copy of the Zacks research report on RGC Resources (RGCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for RGC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RGC Resources and related companies with MarketBeat.com's FREE daily email newsletter.