RGC Resources Inc. (NASDAQ:RGCO) Short Interest Down 19.3% in December

RGC Resources Inc. (NASDAQ:RGCO) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 57,187 shares, a drop of 19.3% from the December 15th total of 70,864 shares. Based on an average daily volume of 13,258 shares, the days-to-cover ratio is currently 4.3 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 13,258 shares, the days-to-cover ratio is currently 4.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

RGC Resources Trading Down 1.9%

Shares of RGC Resources stock opened at $21.22 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 1.28. RGC Resources has a 12-month low of $19.50 and a 12-month high of $23.82. The company has a market capitalization of $219.63 million, a price-to-earnings ratio of 16.58 and a beta of 0.53. The firm’s 50-day moving average price is $21.88 and its two-hundred day moving average price is $21.78.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Thursday, December 4th. The energy company reported $1.29 earnings per share for the quarter. RGC Resources had a net margin of 13.93% and a return on equity of 11.56%. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, analysts forecast that RGC Resources will post 1.23 earnings per share for the current fiscal year.

RGC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be paid a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio is 67.97%.

Institutional Trading of RGC Resources

Several large investors have recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in RGC Resources by 647.1% during the third quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after acquiring an additional 1,100 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after purchasing an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets increased its position in RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after purchasing an additional 812 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in RGC Resources by 45.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after purchasing an additional 800 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in RGC Resources in the second quarter valued at approximately $59,000. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Company Profile

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.