Zacks: RGC Resources Inc. (NASDAQ:RGCO) Given $30.00 Average Target Price by Analysts

Shares of RGC Resources Inc. (NASDAQ:RGCO) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. RGC Resources’ rating score has improved by 33.3% in the last three months as a result of a number of analysts’ ratings changes.

Brokers have set a 1-year consensus price target of $30.00 for the company and are expecting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given RGC Resources an industry rank of 74 out of 256 based on the ratings given to related companies.

A number of research firms have recently weighed in on RGCO. Zacks Investment Research downgraded RGC Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Janney Montgomery Scott raised RGC Resources from a “neutral” rating to a “buy” rating in a research note on Friday, May 10th.

Shares of RGCO stock traded up $2.09 during trading hours on Friday, reaching $30.52. The company had a trading volume of 73,737 shares, compared to its average volume of 8,272. The firm’s 50 day simple moving average is $27.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.73 and a current ratio of 0.86. The firm has a market capitalization of $245.55 million, a price-to-earnings ratio of 32.13 and a beta of -0.29. RGC Resources has a 1-year low of $24.16 and a 1-year high of $31.33.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Monday, April 29th. The energy company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.10. The company had revenue of $25.28 million for 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%. On average, equities analysts predict that RGC Resources will post 1.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, July 12th. RGC Resources’s payout ratio is presently 16.84%.

In related news, CEO Orazio John S. D sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $27.25, for a total transaction of $81,750.00. Following the sale, the chief executive officer now owns 44,034 shares of the company’s stock, valued at approximately $1,199,926.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 167 shares of company stock worth $4,482 in the last ninety days. 7.30% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in RGC Resources by 526.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,541 shares of the energy company’s stock worth $41,000 after buying an additional 1,295 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in RGC Resources during the 4th quarter worth $76,000. MetLife Investment Advisors LLC acquired a new stake in RGC Resources during the 4th quarter worth $104,000. SG Americas Securities LLC acquired a new stake in RGC Resources during the 1st quarter worth $153,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in RGC Resources during the 4th quarter worth $218,000.

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.

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