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RGC Resources (RGCO) Surges 9.1%: Is This an Indication of Further Gains?
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RGC Resources Inc. (RGCO - Free Report) shares rallied 9.1% in the last trading session to close at $22.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.5% loss over the past four weeks.
RGCO’s share price surged on Monday, driven by a sharp increase in natural gas demand and prices amid an ongoing heatwave across the eastern U.S. The extreme temperatures significantly boosted power generation needs, prompting utilities to consume more natural gas to meet the spike in electricity usage. Although gas output in the Lower 48 states edged slightly higher in June, it remained below March’s record levels, keeping supply relatively tight. At the same time, seasonal maintenance at major LNG export facilities reduced outbound flows, easing pressure on domestic supply. Adding to the bullish sentiment, ongoing geopolitical instability in the Middle East has heightened concerns over potential disruptions to global LNG trade, particularly through the Strait of Hormuz—a key chokepoint for roughly one-fifth of the world's LNG shipments. This confluence of strong domestic demand, limited supply growth, and broader market uncertainty lifted investor confidence in regional gas utilities like RGC Resources, fueling the notable rise in its share price.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $15 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RGC Resources, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGCO going forward to see if this recent jump can turn into more strength down the road.
RGC Resources belongs to the Zacks Oil and Gas - Refining and Marketing industry. Another stock from the same industry, TotalEnergies SE Sponsored ADR (TTE - Free Report) , closed the last trading session 2.1% lower at $61.28. Over the past month, TTE has returned 8.1%.
For TotalEnergies, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.64. This represents a change of -17.2% from what the company reported a year ago. TotalEnergies currently has a Zacks Rank of #3 (Hold).
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RGC Resources (RGCO) Surges 9.1%: Is This an Indication of Further Gains?
RGC Resources Inc. (RGCO - Free Report) shares rallied 9.1% in the last trading session to close at $22.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.5% loss over the past four weeks.
RGCO’s share price surged on Monday, driven by a sharp increase in natural gas demand and prices amid an ongoing heatwave across the eastern U.S. The extreme temperatures significantly boosted power generation needs, prompting utilities to consume more natural gas to meet the spike in electricity usage. Although gas output in the Lower 48 states edged slightly higher in June, it remained below March’s record levels, keeping supply relatively tight. At the same time, seasonal maintenance at major LNG export facilities reduced outbound flows, easing pressure on domestic supply. Adding to the bullish sentiment, ongoing geopolitical instability in the Middle East has heightened concerns over potential disruptions to global LNG trade, particularly through the Strait of Hormuz—a key chokepoint for roughly one-fifth of the world's LNG shipments. This confluence of strong domestic demand, limited supply growth, and broader market uncertainty lifted investor confidence in regional gas utilities like RGC Resources, fueling the notable rise in its share price.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $15 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RGC Resources, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGCO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RGC Resources belongs to the Zacks Oil and Gas - Refining and Marketing industry. Another stock from the same industry, TotalEnergies SE Sponsored ADR (TTE - Free Report) , closed the last trading session 2.1% lower at $61.28. Over the past month, TTE has returned 8.1%.
For TotalEnergies, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.64. This represents a change of -17.2% from what the company reported a year ago. TotalEnergies currently has a Zacks Rank of #3 (Hold).