RGC Resources, Inc. (NASDAQ:RGCO) to Issue $0.21 Quarterly Dividend

RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) declared a quarterly dividend on Friday, March 28th, RTT News reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.2075 per share by the energy company on Thursday, May 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, April 17th.

RGC Resources has increased its dividend by an average of 2.5% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. RGC Resources has a payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RGC Resources to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.83 annual dividend with an expected future payout ratio of 64.3%.

RGC Resources Trading Up 0.7 %

RGCO stock traded up $0.14 during trading on Tuesday, hitting $21.01. 20,819 shares of the company traded hands, compared to its average volume of 12,097. The company has a 50-day moving average of $20.71 and a 200-day moving average of $20.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. RGC Resources has a 1 year low of $18.62 and a 1 year high of $24.20. The firm has a market capitalization of $216.34 million, a PE ratio of 17.96 and a beta of 0.25.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Analysts predict that RGC Resources will post 1.23 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of RGC Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 18th.

About RGC Resources

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.