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

RGC Resources, Inc. (NASDAQ:RGCO) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 85,300 shares, a growth of 31.8% from the March 31st total of 64,700 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 15,100 shares, the short-interest ratio is currently 5.6 days.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th.

Insider Buying and Selling

In other RGC Resources news, Director Robert B. Johnston bought 1,715 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $18.78 per share, with a total value of $32,207.70. Following the completion of the purchase, the director now owns 63,005 shares of the company’s stock, valued at $1,183,233.90. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired 2,315 shares of company stock valued at $43,302 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

Several large investors have recently modified their holdings of RGCO. Cutter & CO Brokerage Inc. lifted its stake in shares of RGC Resources by 50.6% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock worth $2,508,000 after purchasing an additional 41,421 shares during the period. Quadrature Capital Ltd boosted its stake in shares of RGC Resources by 39.0% during the 3rd quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock worth $290,000 after acquiring an additional 4,716 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of RGC Resources during the 3rd quarter valued at $4,278,000. Fruth Investment Management bought a new stake in shares of RGC Resources during the 4th quarter valued at $211,000. Finally, Gabelli Funds LLC increased its stake in shares of RGC Resources by 54.3% in the 3rd quarter. Gabelli Funds LLC now owns 164,700 shares of the energy company’s stock worth $2,849,000 after purchasing an additional 57,930 shares in the last quarter. Institutional investors own 35.77% of the company’s stock.

RGC Resources Stock Performance

Shares of RGC Resources stock traded down $0.36 during trading on Tuesday, hitting $20.62. 7,093 shares of the company’s stock traded hands, compared to its average volume of 16,484. RGC Resources has a 1 year low of $15.36 and a 1 year high of $22.53. The business has a 50-day simple moving average of $19.86 and a 200-day simple moving average of $19.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.54 and a quick ratio of 0.36. The stock has a market capitalization of $209.50 million, a P/E ratio of 15.74 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Monday, February 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. The firm had revenue of $24.42 million for the quarter, compared to the consensus estimate of $31.00 million. As a group, analysts forecast that RGC Resources will post 1.16 EPS for the current year.

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 16th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Monday, April 15th. RGC Resources’s dividend payout ratio (DPR) is presently 61.07%.

RGC Resources Company Profile

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.