RGC Resources Inc. (NASDAQ:RGCO) to Issue Quarterly Dividend of $0.22

RGC Resources Inc. (NASDAQ:RGCO) declared a quarterly dividend on Monday, June 29th. Stockholders of record on Friday, July 17th will be paid a dividend of 0.2175 per share by the energy company on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, July 17th.

RGC Resources has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 22 years. RGC Resources has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings.

RGC Resources Stock Up 0.7%

Shares of RGC Resources stock opened at $23.79 on Tuesday. RGC Resources has a one year low of $19.68 and a one year high of $26.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.69 and a quick ratio of 0.59. The stock’s 50-day moving average is $23.09 and its 200 day moving average is $22.31. The firm has a market cap of $247.65 million, a price-to-earnings ratio of 17.75 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $45.46 million during the quarter, compared to the consensus estimate of $38.20 million. RGC Resources had a return on equity of 11.87% and a net margin of 13.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen raised shares of RGC Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

About RGC Resources

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.