RGC Resources, Inc. (NASDAQ:RGCO) Short Interest Update

RGC Resources, Inc. (NASDAQ:RGCOGet Free Report) saw a large drop in short interest in April. As of April 30th, there was short interest totalling 55,400 shares, a drop of 35.1% from the April 15th total of 85,300 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 14,300 shares, the short-interest ratio is currently 3.9 days.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $20.45 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 1.23. The firm has a market cap of $208.18 million, a price-to-earnings ratio of 15.73 and a beta of 0.21. The business has a fifty day simple moving average of $20.23 and a 200 day simple moving average of $19.31. RGC Resources has a 1 year low of $15.36 and a 1 year high of $22.53.

RGC Resources (NASDAQ:RGCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The business had revenue of $32.66 million during the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a net margin of 15.82% and a return on equity of 12.66%. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that RGC Resources will post 1.14 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Wednesday, July 17th. RGC Resources’s dividend payout ratio (DPR) is 61.54%.

Hedge Funds Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Nisa Investment Advisors LLC acquired a new stake in shares of RGC Resources during the 4th quarter worth approximately $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of RGC Resources in the 3rd quarter worth $53,000. BNP Paribas Financial Markets grew its stake in shares of RGC Resources by 62.0% during the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after purchasing an additional 1,535 shares during the period. Keel Point LLC acquired a new position in RGC Resources in the fourth quarter valued at about $203,000. Finally, Fruth Investment Management bought a new position in RGC Resources during the fourth quarter worth about $211,000. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, TheStreet raised RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th.

Read Our Latest Research Report on RGCO

RGC Resources Company Profile

(Get Free Report)

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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