RGC Resources, Inc. (NASDAQ:RGCO) Sees Large Growth in Short Interest

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On RGC Resources

A number of large investors have recently added to or reduced their stakes in RGCO. Barclays PLC grew its holdings in RGC Resources by 66.6% during the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock valued at $37,000 after purchasing an additional 723 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in RGC Resources during the 3rd quarter valued at $53,000. Watershed Asset Management L.L.C. acquired a new stake in RGC Resources during the 3rd quarter valued at $252,000. Teton Advisors Inc. grew its holdings in RGC Resources by 2.4% during the 3rd quarter. Teton Advisors Inc. now owns 86,010 shares of the energy company’s stock valued at $1,488,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in RGC Resources during the 3rd quarter valued at $4,278,000. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Trading Up 1.4 %

Shares of RGCO stock traded up $0.29 during mid-day trading on Friday, reaching $20.51. The company’s stock had a trading volume of 5,788 shares, compared to its average volume of 13,788. The company’s 50 day simple moving average is $19.79 and its 200-day simple moving average is $18.99. RGC Resources has a 12-month low of $15.36 and a 12-month high of $22.53. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $208.44 million, a PE ratio of 15.66 and a beta of 0.22.

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

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Monday, April 15th. RGC Resources’s payout ratio is 61.07%.

Wall Street Analyst Weigh In

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

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.