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

by · The Cerbat Gem

RGC Resources Inc. (NASDAQ:RGCOGet Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 72,859 shares, a growth of 27.4% from the December 31st total of 57,187 shares. Based on an average trading volume of 13,568 shares, the days-to-cover ratio is currently 5.4 days. Currently, 0.8% of the shares of the company are short sold. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 13,568 shares, the days-to-cover ratio is currently 5.4 days.

RGC Resources Price Performance

NASDAQ:RGCO traded down $0.27 during trading hours on Wednesday, reaching $22.46. The stock had a trading volume of 817 shares, compared to its average volume of 11,733. RGC Resources has a 52 week low of $19.50 and a 52 week high of $23.82. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.59 and a current ratio of 1.03. The company has a 50 day moving average price of $21.86 and a two-hundred day moving average price of $21.73. The stock has a market capitalization of $232.41 million, a PE ratio of 17.50 and a beta of 0.52.

RGC Resources (NASDAQ:RGCOGet Free Report) last posted its 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 period in the prior year, the firm posted $1.16 EPS. As a group, sell-side analysts anticipate that RGC Resources will post 1.23 earnings per share for the current fiscal year.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 16th were given a dividend of $0.2175 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.87 annualized dividend and a dividend yield of 3.9%. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio is presently 67.97%.

Wall Street Analyst Weigh In

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

Read Our Latest Analysis on RGC Resources

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently added to or reduced their stakes in RGCO. JPMorgan Chase & Co. grew its position in shares of RGC Resources by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock worth $284,000 after buying an additional 2,502 shares in the last quarter. Focus Partners Wealth bought a new position in RGC Resources during the 3rd quarter worth about $282,000. Citadel Advisors LLC increased its position in RGC Resources by 37.9% during the 3rd quarter. Citadel Advisors LLC now owns 19,478 shares of the energy company’s stock valued at $437,000 after purchasing an additional 5,353 shares during the period. Squarepoint Ops LLC raised its holdings in shares of RGC Resources by 104.0% in the 3rd quarter. Squarepoint Ops LLC now owns 19,396 shares of the energy company’s stock valued at $435,000 after purchasing an additional 9,887 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of RGC Resources by 80.9% in 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 during the period. 35.77% of the stock is currently owned by institutional investors.

RGC Resources Company Profile

(Get Free Report)

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.

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