RGC Resources, Inc. (NASDAQ:RGCO) Plans $0.20 Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO) announced a quarterly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.20 per share by the energy company on Friday, November 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, October 18th.

RGC Resources has raised its dividend payment by an average of 4.1% annually over the last three years. RGC Resources has a payout ratio of 65.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RGC Resources to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 65.6%.

RGC Resources Stock Up 2.2 %

RGCO opened at $21.54 on Thursday. The firm has a market cap of $219.30 million, a P/E ratio of 16.57 and a beta of 0.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 1.07. The business has a 50 day moving average price of $20.80 and a 200 day moving average price of $20.64. RGC Resources has a twelve month low of $15.36 and a twelve month high of $23.70.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. The firm had revenue of $14.46 million during the quarter, compared to analyst estimates of $14.00 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Research analysts forecast that RGC Resources will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th.

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.