RGC Resources (RGCO) to Release Earnings on Thursday

RGC Resources (NASDAQ:RGCO – Get Rating) is set to issue its quarterly earnings data before the market opens on Thursday, August 11th. Analysts expect the company to announce earnings of $0.02 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

RGC Resources (NASDAQ:RGCO – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). RGC Resources had a negative net margin of 25.31% and a positive return on equity of 9.13%. The company had revenue of $29.53 million for the quarter, compared to the consensus estimate of $30.00 million. On average, analysts expect RGC Resources to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $20.51 on Thursday. RGC Resources has a 1-year low of $18.01 and a 1-year high of $25.61. The business has a fifty day moving average price of $19.84 and a 200-day moving average price of $20.89. The company has a market capitalization of $172.74 million, a PE ratio of -8.58 and a beta of -0.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.80.

Insiders Place Their Bets

In other news, Director Robert B. Johnston bought 7,500 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were acquired at an average cost of $18.10 per share, with a total value of $135,750.00. Following the completion of the transaction, the director now owns 60,000 shares of the company’s stock, valued at approximately $1,086,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robert B. Johnston bought 7,500 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were acquired at an average cost of $18.10 per share, with a total value of $135,750.00. Following the completion of the transaction, the director now owns 60,000 shares of the company’s stock, valued at approximately $1,086,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Williamson III bought 3,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was purchased at an average cost of $20.40 per share, for a total transaction of $61,200.00. Following the completion of the transaction, the director now directly owns 146,433 shares of the company’s stock, valued at approximately $2,987,233.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 16,721 shares of company stock valued at $319,057. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of RGC Resources by 14.3% during the 1st quarter. State Street Corp now owns 21,968 shares of the energy company’s stock valued at $470,000 after buying an additional 2,750 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of RGC Resources by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 50,042 shares of the energy company’s stock valued at $1,082,000 after buying an additional 1,462 shares in the last quarter. UBS Group AG lifted its position in shares of RGC Resources by 0.6% during the 1st quarter. UBS Group AG now owns 99,322 shares of the energy company’s stock valued at $2,147,000 after buying an additional 597 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of RGC Resources by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 112,773 shares of the energy company’s stock valued at $2,411,000 after buying an additional 986 shares in the last quarter.

Analysts Set New Price Targets

RGCO has been the subject of several research analyst reports. TheStreet downgraded RGC Resources from a “b-” rating to a “c-” rating in a report on Thursday, May 5th. StockNews.com initiated coverage on RGC Resources in a report on Monday. They issued a “sell” rating for the company.

About RGC Resources

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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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.